Tuesday, July 12, 2011

BRKL Follow UP

BRKL was a long trade idea from June 29th

 This was the original consolidation pattern, you can see the noise candles that kept the trend intact and the white candle when the idea was posted.

 It seems the consolidation in retrospect is better drawn as a bullish ascending triangle, the price action prior to the formation was correct. The chart shows the price pattern implied target.

 The daily 3C chart is what was interesting about this trade.

 The hourly chart confirms both the daily accumulation as well as the current trend.

 The 10 min is in line with price as well.

The trade is at a little better then a 4% profit, I'd like to see at least a 10% swing out of the trade. For me personally, since the 10-day moving average has  not seen a single day close below it since the move up started, I would use this average as my trailing stop.

No comments: