TATCH 👻 TRADING JOURNAL: [ATCB] very nice continuation pattern

in #money6 years ago (edited)

Hi guys !

Altice has been a very long-term trade and it ain't over yet.
This follow:

Capture d’écran 2018-02-11 à 19.45.57.png
Many things on this chart !

First

We had a nice reversal, follow by a 2 legged correction in the form of a "spike & channel".

That channel was "breached" below then above (= channel is over). Then price retested the low (stophunting) and just reach an important level of interest around 7,80€.

Targets

First 'conservative' target is 8,5€, 'moderate' 8,7€ and 'aggressive' 12,4€.

Be Careful

Next level of interest is 7,2. If 'they' turn the correction into a 3 legged wedge it will be their target for some more stophunting...

How to play it ?

Again no advice here just commentary...

I see 2 ways to play this:

  • Conservative way:

Buy at 7,8 and at 7,2 (buy limits) take out the first buy at 8,5, tighten you SL and let it run to 12ish €

  • Aggresive way

  • Buy (bigger lots) at 7,8 with a tight SL and exit half at 8,5, tighten you SL (you can put it at breakeven) and let it run to 12ish €

  • Buy again (bigger lots) at 7,2 with a tight SL and exit half at 8,7 minimum and tighten you SL (you can put it at breakeven) and let it run to 12ish €.

Don't hesitate to join us on Telegram, upvote, share and ask questions in comment section.

Much love

Cédric

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@originalworks

All disclaimers and common sense apply.
No advise, just personal commentary.
"Never go full retard".

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