Thursday price action confirmed a bullish ABCD pattern with shallow retracement and 3:1 right handed skewing. We also broke the 3pt resistance trendline and closed above the 50 and 100 DMA. I exited half my position on Friday @ 12986 and moved a stop on my remaining 2 contracts just below the swing low @ 12739. This bullish ABCD pattern now suggests a conservative upside target of 13288 with more agressive targets of 13373-13615. I will look to exit 1 @ 13220 and the remainder @ 13349.
No comments:
Post a Comment