EXPE - 7.75% Potential Profit - Ascending Triangle
We traded EXPE a couple of weeks ago, and we made a decent 4% return.
Ascending Triangle broken out after a 3-month correction following a great bull run. Multiple support confirmation on the 5-min chart. Support manage to hold up quite well even during the recent meltdown. Indicators are obviously not on our side, since we are playing the bounce.
- 6-month Uptrend
- RSI + Stoch below 50 (!)
- MACD below Signal (!)
Target Entry $97.50
Target Stop Loss $96.95
Target Exit $104.98
About me
- August P/L: +203.83% | Wins 85.19% | No Trades without Analysis
- Note that I tend to adjust stop losses in order to secure profits early and preserve capital. This means that the target price is going to be achieved as long as there are no strong pullbacks that trigger my new adjusted stop loss.
Ascending Triangle broken out after a 3-month correction following a great bull run. Multiple support confirmation on the 5-min chart. Support manage to hold up quite well even during the recent meltdown. Indicators are obviously not on our side, since we are playing the bounce.
- 6-month Uptrend
- RSI + Stoch below 50 (!)
- MACD below Signal (!)
Target Entry $97.50
Target Stop Loss $96.95
Target Exit $104.98
About me
- August P/L: +203.83% | Wins 85.19% | No Trades without Analysis
- Note that I tend to adjust stop losses in order to secure profits early and preserve capital. This means that the target price is going to be achieved as long as there are no strong pullbacks that trigger my new adjusted stop loss.
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Yet another unpredictable day.