Ascending Triangle Setup
Last Friday I went long on PFE.
SP moves in an ascending triangle which is formed since april. The peak is reached pretty soon but I do not believe in a breakout just yet.
I think it will be rejected by the resistance @38.58 one more time, so this is my price target.
Volume is average, trend neutral, RSI & MACD looking good.
SL is set just below the last low.
Entry: 36.8
TP: 38.58 (soft TP since there might be vaccine news and this would break the resistance for sure and I want to participate, so just keep a close eye on the PA)
SL: 35.25
SP moves in an ascending triangle which is formed since april. The peak is reached pretty soon but I do not believe in a breakout just yet.
I think it will be rejected by the resistance @38.58 one more time, so this is my price target.
Volume is average, trend neutral, RSI & MACD looking good.
SL is set just below the last low.
Entry: 36.8
TP: 38.58 (soft TP since there might be vaccine news and this would break the resistance for sure and I want to participate, so just keep a close eye on the PA)
SL: 35.25
Note
Updated TP to 41 since the vaccine theory seems coming true. SL not adjusted yetNote
Learning again: do not get greedy. Could have taken profit and reenter as initially planned. Stick to your plans,
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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.