AMARIN LONG IDEA DAILY CHART
Updated
Ok this stock idea doesnt fit my trading strategy.i was long from 16.7 to the first boom to 19s-20s and panick sold cause i had no idea where this was going to stop.
FUNDUMENTALS.well no introductions needed.Its in a state of euphoria with analysts targets from 30to 50$.
TECHNICALS.Now my reason for trading this.it seems to break over the all time high.
My thinking is we could wait to see if this indeed breaks of the all time high.if it does we can open a trade with SL just bellow the support zone
of 23-24 dollars and a TP level of 35 dollars?or maybe even higher.
From purely R/R ratio i think its a bet im willing to take
FUNDUMENTALS.well no introductions needed.Its in a state of euphoria with analysts targets from 30to 50$.
TECHNICALS.Now my reason for trading this.it seems to break over the all time high.
My thinking is we could wait to see if this indeed breaks of the all time high.if it does we can open a trade with SL just bellow the support zone
of 23-24 dollars and a TP level of 35 dollars?or maybe even higher.
From purely R/R ratio i think its a bet im willing to take
Note
It opened above th key level and its dropping.This is good.Lets be patient and wait to see if the resistance will holdNote
Its pretty clear now that the price fell from the all time high.I expect price to fall to 20
AREA before we see any form of uptrendNote
Proce went falling to low 19s and came back to close above 20.Price still ovrebought but lts see if this zone holds.Trade active
trade opned SL:17
TP1:30
Trade active
Lets see if the 23-24 level holds.if yes we will see greater heightsNote
seems the break above the all time high has happened.Goal 30$Note
False breakout.Price seems to stay in the channelTrade closed manually
Will stop it here since it doesnt fit my trading plan.This trade from the start wasnt according to my strategy.Lesson learned
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