Launched rockets find support at 4 week average (red dotted line). Green bars designate bounces up off of 4 week average as long as 4w>10wk>30wk. I buy after a green bar and put first stop loss below that or prior week’s low. Easy to find GLBs with TC2000.
Hi Dr Wish, I just want to confirm your stop loss on SITM was the low of the breakout bar in June on the weekly which would have been a 30% stop loss?
Great looking charts, all of them are currently extended. Might expect a bit of a consolidation or pullback to at least some moving averages. But, who knows? It just isn’t a great entry point right now for any of these stocks.
Great question! On the GLB day I prefer to buy on that day. TC2000 alerts me the instant the stock climbs above the green line. I sell if it closes back below the green line. For other weeks, I might not enter if the low of the bar was so far from purchase or if it was I would take a smaller position to get on board.
One could still buy on a bounce up off of the 4 week average. Who knows when the advance might end.
One never knows when it will end. When it does, I sell.