Long Lundin Mining - LUMIS
Updated
Long CHXEUR:LUMIS today (170313) at 51.20, target 50% retracement to 55.5. Stochastic increasing from below 20 and increasing momentum.
Stop at 49,7, gives a risk reward ratio of 2.9.
Longer term:
- Retrace the whole down move to 61.75 (an additional 10% upside)?
- Forming a head and shoulder with the right shoulder at 55.5? If it would trigger there's a potential 20% downside to the 40ies where there is a gap support.
Stop at 49,7, gives a risk reward ratio of 2.9.
Longer term:
- Retrace the whole down move to 61.75 (an additional 10% upside)?
- Forming a head and shoulder with the right shoulder at 55.5? If it would trigger there's a potential 20% downside to the 40ies where there is a gap support.
Note
I made a mistake when I placed the stop so it was triggered at the besinning of the day (170314), will follow price action looking for a possible re-entry.Trade closed: stop reached
So this didn't really work out, it's been down at 48,5, which breaks my scenario. I guess that I should be happy that I messed out the stop and got out at 50.1.
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