txrh long on gap/200 testpersonal opinion on set up of the 200/gap support held and confirmed turn. Long this base. Looking for break above 20 day moving average for next confirmation. 200 would be stop
TXRH trade ideas
TXHR - revisited TXHR looks to be consolidating its breakout move after earnings. Triangle pattern forming with higher lows and lower highs. Volume drying up. MACD and RSI not so hot but could make one push higher before heading down. With the impulse leg that took out two prior peaks I like this to 67. 50 day ready to cross over 200 day. Up up and away!
TXRH 9 RRR shortTrading Methodology:
1. An asymmetric bullish/bearish pennant is drawn using ascending and descending curved trend lines with a minimum of three price action touche points per line. The direction is determined by the previous trend.
2. The angle tool is applied from the earliest two trend touch points, beginning at the earliest touch point.
3. A trend-based Fibonacci retracement triangle is drawn starting from the earliest trend touch point and ending at the earliest touch point of the opposite trend line .
4. Based on the degree, of the earlier defined angle, the appropriate (and secret) levels are selected for the fibonacci retracement ; two levels for stop-loss and two levels for take-profit. The closest stop-loss level to the current price level is the top priority stop-loss. Though the secondary stop-loss level is often chosen for some markets such as FX and some equities in order to account for seldom unexpected resistance breaks. The greater target level is the top priority, and where majority of the shares are sold, though some may choose to close part of the position at the first target level or set it to be the stop-loss once price exceeds it. Entries should be laddered in around the levels closest of the yellow line.
This trading strategy can be applied to any market and time frame, and positions most often garner the greatest risk-to-reward ratio with the highest success rate. What more can you ask for? I will only be posting my unique trading strategy until EOY. I work solely with price action to identify pennants and apply unique trend-based fibonacci retracement levels for SL and TP levels. Reach out to me if you have any questions.
one of my fav restaurantsEasy scalp here. Bounced exactly off the .786 retrace on a textbook bullish gartley. Looking for a target at the TL around 64 in April. Reason I'm looking at restaurant stock is cuz I'm looking to mostly long stocks that don't trade w/ the indices.
Thinking txrh would be a short here. Any thoughts?Doji on the month, gap down on the daily. No clue how or where to short it or if its even possible. Just saving for journal/future reference
$TXRH long swing trade set-up on a 4hTexas Roadhouse is one I've invested in for the longer term, it offers some great percentage gains on these s/r level swings. Here's my entry set-up.
Texas Roadhouse 12% up?- Positive MACD crossover
- Positive RSI development
- Price break through resistance at 60, breaking out of a rising triangle formation, giving a price target of 68
- Price aboce SMA 200
- Price recently get above SMA 50
Link to company information at marketwatch: www.marketwatch.com
Not much of a risk on this one. Not setting a stop loss. Expect support at SMA 50 and 200 in addition to the rising trend support line.
TXRHBroke above the Price Structure to the far left. Rising RSI & SMA50. Continues to look very Bullish here.
