HOV Long Trade Management

HOV long was an idea from yesterday 8/15  and here was yesterday's follow up post. Right now you should be at a gain of at least 16% for less then a day's trade. You may want to consider taking partial profits, but at the very least  would consider a trailing stop.

 Here's our initial idea yesterday, we got a slight pullback fro there as I thought we might.

 3C is giving good confirmation through multiple timeframes thus far-1 min

 5 min

 10 min

 30 min, the 60 min is also inline.

 Here are the 10-bar (yellow) and 22 bar (blue) moving averages on a 60 min chart, the white area is a natural pullback, the red area can be used as a stop, this is a wider stop.

 Here's the same on a 30 min chart.

And this is as tight as I would go on a 15 min chart, otherwise you might as well just take your profits which are excellent for less then a day. The white areas provide add to areas as well as an area to set up a new position with a defined stop at the red arrow for anyone considering the trade, just remember that it is speculative by price and by the fact that it is countertrend right now with the market down, thus I would reduce risk initially.