Company - Uranium Participation Corp.
I entered this trade today, Short sell at $9.15 for a possible $2 to $3 or so target.
Profit vs risk ratio = 4:1 to 6:1.
Research: Uranium...I know what it is but I don't know what they have to do with it.
I placed the green circle on the chart as a target zone about a week ago. I find that doing this on the charts makes it easier to very quickly glance at them to determine if they might be ready to trade. The TWT (trend within a trend) line (red) had four touches as the price rose and pulled back to the line before rallying. I felt that it was important for the price to break that line down before entering a short position especially as the line corresponded with the 30 period daily moving average. It broke the line convincingly yesterday which made today the best entry point as the odds are unlikely that it will re-cross the line.
Following is a one year weekly chart to show the general long term downtrend.
JD.
this is great stuff......
ReplyDeleteu are too funny.......i think my learning curve will be a lot faster studying your charts and analysis thru your blog
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