24 Oct 2019 - JSE:BVT - Long - Cup and Handle - MPT
Updated
I feel a little bit hesitant with this breakout but the boss (systems) says go.
Reason is... We've broken above the breakout brim level and have confirmed that what was a resistance is now a support level...
However, the previous trend was sideways which makes this trade a MPT (Medium Probability Trade).
I've gone long but instead of risking 2% of portfolio, I'm risking 1.5%.
Trade welll,
Timon Rossolimos
Founder, MATI Trader
Reason is... We've broken above the breakout brim level and have confirmed that what was a resistance is now a support level...
However, the previous trend was sideways which makes this trade a MPT (Medium Probability Trade).
I've gone long but instead of risking 2% of portfolio, I'm risking 1.5%.
Trade welll,
Timon Rossolimos
Founder, MATI Trader
Comment
Picking up nicely... This is the point where I'd raise the stop loss in a way that should the trade turn against us, it would close for a gain rather than an unecessary loss.Trade closed: target reached
We could see JSE:BVT move sideways / down a bit before further upside. WIll wait for the next pattern formation...
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Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
facebook.com/groups/matitrader
🌐Website:
timonandmati.com
𝕏 (Formerly Twitter):
twitter.com/timonr
Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
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