Friday, May 6, 2011

PSLV Stop Adjustment

As mentioned earlier, if warranted, I'd open the stop up a bit wider on PSLV. Now you may have stopped out at the tighter stop and taken a decent little profit for the day, but if you're still in the trade, here's what I'd be using now.

 The Trend Channel on a 30 min chart, or....

The 10-bar average (yellow) on a 60 min chart. As you can see, the 10-bar held the last swing move down and PSLV is pretty much holding right there at the 10-bar 60 minute chart.

The 15 min positive divergence that I noted last night and have shown several times today hasn't changed much, in fact it looks like it's made a little more progress today.

No comments: