Bullish reversal BH
Recently I have finished reading "New trading for a living" by Dr.Alexander Elder.
In the chart I see bullish reversal pattern similar in the book
-MACD-Histogram/MACD signal Bullish reversal
-False Break at 105.5
-The price pull back to the resistance line 107.5
-Increase volume
Actually the ideal price for buy is 105.5-107.5
But I see the chart today so there is a price pullback so there should be an opportunity
Stop loss is 107.75
So if I buy today at 118.0 so it's a bit of risky (loss -8.5%)
In the book said you should never loss more than 2-6% of your portfolio
So
1) move stop loss
2) wait
In the chart I see bullish reversal pattern similar in the book
-MACD-Histogram/MACD signal Bullish reversal
-False Break at 105.5
-The price pull back to the resistance line 107.5
-Increase volume
Actually the ideal price for buy is 105.5-107.5
But I see the chart today so there is a price pullback so there should be an opportunity
Stop loss is 107.75
So if I buy today at 118.0 so it's a bit of risky (loss -8.5%)
In the book said you should never loss more than 2-6% of your portfolio
So
1) move stop loss
2) wait
Note
another ideal price is 111.0 - 113.0in TF day there is a pullback and macd -histogram arise from sub zero
Trade closed: target reached
Sell at 119.5Switch to the more volatile stock
bye bye BH
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.