Long
CPH Long Plan for Monday 30/11/2020
Updated
First Entry at 0.037 (if confirmation level for upwards movement indicated), will not buy if share drops below 0.618 Fib Retracement level.
Stop Loss set at 0.033 (0.618 Fib Retracement level)
Target Profit set at 0.050 (1.618 Fib Extension level)
Stop Loss set at 0.033 (0.618 Fib Retracement level)
Target Profit set at 0.050 (1.618 Fib Extension level)
Trade active
Confirmation of break out seen and bought in at 0.038, currently risen to 0.042 as at 10:40amTrade active
0.045 as at 3:25pm = 17.08% gain.Holding position for now...
Trade closed: target reached
I have now closed this position at 0.048. Initial buy in 0.038 - exit 0.048.
This has been a 24.98% return on initial investment.
Dipped out a bit early on this one, and played conservatively, just to be safe.
Note
I plan to try and buy back in for another wave if the below criteria are met:After today, it is anticipated that there will be a retracement to between the fib levels of 0.5 - 0.618. So, a retracement from the high of 0.053 to between 0.041 to 0.038.
Once it hits this level it must show confirmation of an upwards swing for me to consider buying in again at 0.044 - 0.046 price.
If I enter this trade my target price will be around the 1 fib extension for a price between 0.064 - 0.70 (approx 45% return on initial investment).
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