When this stock was added to the watchlist, it displayed a bullish continuation setup on the daily timeframe. On the higher timeframe, there was also a potential for downside overextension, suggesting a possible pullback within the larger downtrend.
On the next chart, executions are shown. In anticipation of the trade, I look for a failed breakout against the trend—a failure test—where the price moves outside the lower boundary of an established consolidation. If it then closes back within the range, I sometimes enter before market close. For these trades, I often close a partial position as the price nears the upper part of the range, in case the range holds without a breakout.
Trade Overview
• Structure: Bullish Continuation (D) / Bearish Pullback (W)
• Position: Near Mean (D) / Extended from Mean (W)
• Entry Trigger: Failed Breakout (Opposite to Trend)
Entry Details
• Entry Price: 7.77
• Stop Price: 6.73
• Target Price (Range): 8.72
• Target Price (Measured Move): 11.62
Exit Strategy
• Exit Price: Closed 50% into 9.03 > Rest hit SL at 7.95.
Technical Trading: Research and Application
stockleave.com/
stockleave.com/
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.
Technical Trading: Research and Application
stockleave.com/
stockleave.com/
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.