Friday, August 5, 2011

BPT Trade Management

The original BPT short trade from July 15th, was a swing trade idea, where our profit target is 10-15%

 Here's the trade date, our stop was $117 so that was never hit. The trade is coming up on a 10% gain now.

 For a tight stop, the 50-bar on a 10 min chart should work well.

BPT is a false breakout from a large triangle, that was part of the premise of the trade. However, I expect some temporary support around these level, thus I would use a trailing stop.

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