Thursday, September 15, 2011

Trendline Strategy

Traded TSPT today as a gap up play in the morning.  I was patient and waited for a retracement and break of high on the initial run up. The breakout didn't hold and I sold for a small overall loss.  I kept it on my charts with a descending trendline.  The idea was to buy once it broke the downtrend.  I got distracted by another trade and missed my initial entry.  Also missed the secondary entry.  Posting this to reinforce the strategy.  Initial entry @ $5.85ish, secondary @ $6.01ish.

No comments:

Post a Comment