$GOOGL - Breakout above long term EMA - UpdateJust updating this idea as previously laid out.
The set up laid out at the end of last month is working out just in line with the idea.
The price is currently trading in the vicinity of the 1st target.
As previously put forth, at this price range, the bears are likely to step in and, at least, pose an obstacle to the more recent bullish spell in this market.
One thing that long position holders / trend followers could do here to hedge against that risk would be to take half of the profits which this trade is currently yielding.
As usual, the future will tell if our idea holds until the price hits target 2, and the future, as I keep on stressing out every time I got the chance to :), is unpredictable.
Manage risk, manage risk, manage risk, manage risk ...
Cheers,
Tenacious Tribe - Backtested Trading Strategies & Studies
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