Ever since CIEN's explosive Power Earnings Gap on 12/12/2019, CIEN has been consolidating into a tight flag pattern on the daily chart. CIEN may need a couple more days to setup, however I am entering this trade with a stop loss below the previous higher low incase CIEN wants to take off tomorrow.
Entry - 42.52
Stop loss - 41.70
Target 1 - 44.00
Target 2 - 46.00
Entry - 42.52
Stop loss - 41.70
Target 1 - 44.00
Target 2 - 46.00
Trade closed: stop reached
Stopped out at 42.30. I had moved up my stop loss near breakeven due to the breakout but pullback yesterday. Today's gap down in the market indicies definitely did not help.
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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.