Coming out of a rounded bottom.
Watching for further upside.
Consolidating recently. Watch for breakout above consolidation, or buy during consolidation.
Extended consolidation often have a false break out the bottom before
moving higher.
Be prepared that...if false breakout occurs, can also be used as entry signal to get long.
Can use target or ATR Stop as an exit--if closes below ATR line, move stop loss to a couple cents below the low of that day.
Watching for further upside.
Consolidating recently. Watch for breakout above consolidation, or buy during consolidation.
Extended consolidation often have a false break out the bottom before
moving higher.
Be prepared that...if false breakout occurs, can also be used as entry signal to get long.
Can use target or ATR Stop as an exit--if closes below ATR line, move stop loss to a couple cents below the low of that day.
Cory Mitchell, CMT
Stock and forex trading insights at tradethatswing.com/
Stock and forex trading insights at tradethatswing.com/