STWD: Potential time at mode uptrend
Updated
Tim West discussed this chart in the Key Hidden Levels chatroom today.
I'm expanding the analysis here, presenting a potential 'Time at mode' uptrend signal after today's bullish action.
The trade implies going long tomorrow, if we open and close above the 18.52 mark, without retesting it, with a stop loss underneath this level (we can use ATR as well, or try multiple entries with different stop loss locations depending on our risk appetite).
Look to enter longs tomorrow, if we get confirmation. For the time being, keep this in your watch list, and make sure to subscribe to Tim's 'Key Hidden Levels' indicator pack, and join the chatroom for more ideas like this.
Cheers,
Ivan Labrie.
I'm expanding the analysis here, presenting a potential 'Time at mode' uptrend signal after today's bullish action.
The trade implies going long tomorrow, if we open and close above the 18.52 mark, without retesting it, with a stop loss underneath this level (we can use ATR as well, or try multiple entries with different stop loss locations depending on our risk appetite).
Look to enter longs tomorrow, if we get confirmation. For the time being, keep this in your watch list, and make sure to subscribe to Tim's 'Key Hidden Levels' indicator pack, and join the chatroom for more ideas like this.
Cheers,
Ivan Labrie.
Note
s3.amazonaws.com/tradingview/snapshots/r/rpLThlzt.png (Tim's chart highlighting the dividend price action and the rgmov uptrend)Note
Down for the day, but holding at the mode. If we have some upward movement soon, we might have a nice long here, outperforming the market!Note
Inside day, ok. We might form a weekly mode before earnings.Trade active
I'm long from 18.54, uptrend confirmed now.Note
Today's bar is looking quite good, constructive for longs.Trade active
Reentered longs when the day turned up today, had closed near yesterday's high.Note
Excellent!Monitor for an exit in 4 bars.
Trade closed manually
Note
Target hit now.
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