I’m looking right now, at the end of the day, and there appears to be a cup-and-handle pattern forming on the weekly chart, and I think I ‘m going to take another shot at trading this tomorrow.
For today, though, I was looking for swing trades yesterday, and this was one of the better options in my opinion (oh shit, did I ever cancel that other order? I should go do that in a second). I put the order in yesterday and it triggered this morning, here’s my write-up from then:
This looks pretty decent, despite the fact that it’s down on the week. It’s been trending up all year, broke a resistance area back in July/August, pulled back a bit, and then broke that area again last week. The down bit this week appears to be a retest to me, so I think I’ll look for entries here
This was a swing trade, but very quickly after triggering me into the trade, price reached 1R and I was able to move my stop to break even. Nearly just as quickly, price came back to the open and stopped me out for, actually with slippage, a tiny profit.
Entry – $115.75
Exit – $115.88
I like this new idea of swing trading, and this looked like a great opportunity and despite not being a large gain, was still a winning trade. I’m definitely looking for more opportunities like these and, again, looking at the weekly chart, this might have some super breakout potential