Wednesday, March 28, 2012

IPGP Trade Idea Follow Up (short)

I've posted a lot recently on IPGP and I know some are already in the trade. This a.m. thus far it is moving pretty well.

 Here's the top pattern

 There may be some support in the area around the red trendline, shorting in to some strength and maybe phasing in to the trade or adding to it on some strength might not be the worst idea.

 Here's the overall larger trend, the recent bounce didn't even show up here on the 60 min

 IT was negative on the 30-

 Thus far in line on the 5 and 1 min below


Again, I'd prefer not to chase these, but let them come to you. The Trend Channel stop is around $56.75

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