ENPH short
Conditions: Growth/ highly valued stocks moving with the market. Trend following trade.
Entry: Market order some point today (12/04)
Stop: 5%. Small order. Re-evaluate and potentially larger position as price nears trend and/or previous high at start of April.
Target: Take profit/exit once weekly stoch gets to 25-20%. Monitor price action.
Downtrend noted since Nov 21
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Current (general) preferred entry conditions and entry signals are either.
a) Reversion to mean from overextension, providing there has been evident support from historical price action and/or a bullish / bearish pintail or rejection evident by an engulfing candle immediately after the supposed support/rejection.
b) Oscillators (Daily/Weekly Stoch as well as the Average Sentiment Oscillator) all providing confluence with a trend line / support level and candle formation.
Maintain 2:1 RR, use retracements as much as possible. If over extended and sufficient confluence and I'm at my computer, consider a market order.
Establish confluence of support/resistance , trend, oscillators, congruent candles (pintail or engulfing reversal).
Entry: Market order some point today (12/04)
Stop: 5%. Small order. Re-evaluate and potentially larger position as price nears trend and/or previous high at start of April.
Target: Take profit/exit once weekly stoch gets to 25-20%. Monitor price action.
Downtrend noted since Nov 21
-------
Current (general) preferred entry conditions and entry signals are either.
a) Reversion to mean from overextension, providing there has been evident support from historical price action and/or a bullish / bearish pintail or rejection evident by an engulfing candle immediately after the supposed support/rejection.
b) Oscillators (Daily/Weekly Stoch as well as the Average Sentiment Oscillator) all providing confluence with a trend line / support level and candle formation.
Maintain 2:1 RR, use retracements as much as possible. If over extended and sufficient confluence and I'm at my computer, consider a market order.
Establish confluence of support/resistance , trend, oscillators, congruent candles (pintail or engulfing reversal).
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