$QURE Is A Hight Tight Flag - Here's How I Plan To Trade ItOf course I have no idea how the price of NASDAQ:QURE is going to open Monday morning, but if it opens within the body of Friday's candle or a little lower, I'll buy it two times as it breaks above 18.13 and then 18.50.
I'll set my stop to the low of the day and see what develops. Having moved up 150% in just 14 days it's an awfully powerful stock and deserves my attention here as it flags out with an acceptable 20% pullback.
I don't know what my position size is going to be on it yet. I have to wait and see where the low of the day is first and then decide how much capital to allocate. If risk is tight enough I'll get to full size buying one half above 18.13 and the second above 18.50.
I'll likely have to use limit buys here because it could move very quickly on me. Doing so means I risk not getting filled but it also means I don't end up taking on an uncomfortable amount of risk either.
Of course I drew my yellow line that I hope to see Monday off the chart and on the moon! Hopefully if that happens I'm well positioned.
We will see what Monday brings, but this is my number one priority at the opening bell.
