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Reallifetrading

Tightening the stop on the streaking TWTRIn the linked idea, you can see my original trade set-up on TWTR. Now that we have broke the 18.90 Target 1/ Critical Resistance, I am really starting to get excited about this trade. On the 5 minute chart, you can see the momentum pause at the 18.90 mark before streaking to almost 19.60. It seems as though we may level out and develop a support on the 5 minute chart around the 19.23 point. All that aside, my stop isn't even on the screen anymore when looking at the 5-minute. I am considering tightening the stop to either the 18.45-18.50 range or the 18.85-18.90 range depending on how we close today. I want to keep the stop conservative for now because I am confident in the momentum of TWTR over the short term. If we break the 19.66 line that has been resistance in the past, that will be the next trigger of a stop tightening for me. This idea and analysis is part of a 3-month trading challenge in which I am only using the EMA 50 to indicate trades.
NYSE:TWTRLong
by brianmontgomery
Possible trade set up on TWTRTWTR has been bullish since 27JUN. It had a HUGE day on 3AUG which completely blew out the SMA50. During that day, on the 5Min chart, there was strong resistance at the 17.50 mark. It traded down upon open today 4AUG and gained positive support near this level and breaking yesterday's resistance. TWTR is showing bullish at this point, but I'm not sure how far we have to run on this current bullish trend. Has the opportunity to buy past already for a decent risk to reward ratio? TWTR would need to break 19.19 for a 2R R2R if we place a stop at the 17.50 mark. It would probably behoove me to wait for a pull back and buy in if it comes back to 17.50.
NYSE:TWTRLong
by brianmontgomery