This was one that I originally did not post and I could have traded it much better. Still was a very profitable trade but I made the mistake of setting a limit target and was out at $9.99. Instead of adjusting the stop based on 10, 21 EMA's, which would have been much more profitable .
Either way, I have been waiting for todays pullback to watch closer what happens next.
Best case scenario:
What I would like to see the most and what would give me a great second entry opportunity is for the pullback and selling volume to be somewhat limited and see this from a base at this time . That should give CGA some time to digest the great run it has and allow weaker holders to take profits . If a successful base forms we should see some selling volume , initially larger , contract to very low volume candles....ideally with multiple contractions up and down . At some point overhead supply will be gone and I will enter on the turn up . This is an ideal situation that would allow CGA to have a natural reaction
Not tradeable scenarios for my style (2)
1)CGA continues to make huge gains without a digestion period leading to eventual capitulation to the down side losing more than 50% ish.
or
2)CGA continues to sell off and forms a very deep base and lots of potential overhead supply issues.
For me both of the later two scenario's are not tradeable for me in the near future , hoping for a base .
Lets see how it shapes up . :)
Either way, I have been waiting for todays pullback to watch closer what happens next.
Best case scenario:
What I would like to see the most and what would give me a great second entry opportunity is for the pullback and selling volume to be somewhat limited and see this from a base at this time . That should give CGA some time to digest the great run it has and allow weaker holders to take profits . If a successful base forms we should see some selling volume , initially larger , contract to very low volume candles....ideally with multiple contractions up and down . At some point overhead supply will be gone and I will enter on the turn up . This is an ideal situation that would allow CGA to have a natural reaction
Not tradeable scenarios for my style (2)
1)CGA continues to make huge gains without a digestion period leading to eventual capitulation to the down side losing more than 50% ish.
or
2)CGA continues to sell off and forms a very deep base and lots of potential overhead supply issues.
For me both of the later two scenario's are not tradeable for me in the near future , hoping for a base .
Lets see how it shapes up . :)
艾力克~