CSE Trade Management

CSE is a trade idea from 7/20, there was also a follow up on 7/21 looking for an entry (short) at $6.40-$6.50, we got that entry on 7/29. which puts the trade at about a 14% gain.

 Our 7/29 entry-patience is your edge over Wall Street.

 Since we have a decent swing gain and we are at a support level on a small RSI positive divergence, it makes sense to trail a stop here. Even though this s the second break of the top, and a more likely trending trade, some of you are swing trading, thus a trailing stop is a good idea.

 Here's a stop that has captured the recent momentum and will allow you to hang onto the bulk of your gains (50 bar m.a. on a 5 min chart).

The longer term trend can be defined with a 50-bar m.a. on a 30 min chart. Since the plunge has been so rapid, the daily trend channel hasn't caught up yet, but should be used for trend traders as soon as possible.

Should there be a pullback to the upside, my first target would be the $6.20 area.