Back on September 9th, when I posted about entering AIG, it has pulled back post breakout and showed a great accumulation pattern. Since then the stock has catapulted back up towards the recent highs. I entered at $37, took a partial exit and am still holding a positon near $52. The key features of the breakout pullback setup include:1. Price breakout over resistance2. Breakout on strong
Hello everyone,
Last month I pointed the bearish breakout we were seeing on GBPJPY weekly chart at around 210.00. In fact, it was a text book flag breakout in the direction of the trend and therefore my bias on this pair was indeed to the downside.
MSTR is a good example of the "Partial Profit" or "Let it Ride" exit strategy. I entered the breakout-pullback setup at $84, with a target under the old high a limit order set at $89.85 (I always set the target a little below the round number). From there I move my stop up to the $84 entry level to lock in the profit.The stock continued higher today, and closed with a new breakout bar (though
It's easy to become lulled by range-bound trade and then miss a significant price breakout. There are several things I look for in identifying a promising breakout move:
1) The presence of an extended trading range - On average, the longer the range, the more extended the subsequent breakout/trend move, as a greater number of traders are forced to cover positions (thereby extending the breakout).
MCK has formed a nice traidng range post breakout. I'd like to enter at the bottom of the range, with a stop just under support and the upper end of the range as my initial target.
MCK has formed a nice traidng range post breakout. I'd like to enter at the bottom of the range, with a stop just under support and the upper end of the range as my initial target.
