Great reward:risk on the indicated swing trade. At the time of the trade there was some room before the price hit resistance. It is moving into the resistance area with strong momentum, so I don't mind holding to see if it can break through.
Given the clear resistance level, if the price doesn't break through this time, will exit if the price moves close to the entry point.
Trade based on short-term uptrend, and potential for a longer-term turn around if the price can break through resistance.
disclosure: long.
Given the clear resistance level, if the price doesn't break through this time, will exit if the price moves close to the entry point.
Trade based on short-term uptrend, and potential for a longer-term turn around if the price can break through resistance.
disclosure: long.
Cory Mitchell, CMT
Stock and forex trading insights at tradethatswing.com/
Stock and forex trading insights at tradethatswing.com/