Wednesday, October 14, 2015
Growthpoint Short Setup
On the daily 3LB graph we can clearly see how GRT breaks its previous swing low and resumes its bearish trend. The setup details are marked up on the right-hand price graph with the following parameters. Short between R24.98 and R24.76 with targets at R24.33,R23.90 and R23.69. Stop is a close above R25.19
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Plenty of opportunities for the entry but not really the desired start to the trade as price closed just above the stop-loss level. This will need to be monitored carefully early on and closed out if necessary
ReplyDeleteFinal stop-out on this position should have been done by latest end of day today for a 2-2 x R loss
ReplyDelete