This Is One Way To Close Your Positions
The confluence of the
20-period EMA and the 38.2% Fib level on the 5-minute chart provided
a nice support for USG Corp (USG) this morning.
10:52:22 (From TradersWire)
|
Action |
Symbol |
Order Type |
Setup |
Stop |
 Target |
Current Price |
Posted By |
|
Buy |
USG | buy at the current price |
pullback | 32.12 | 32.50 | 32.28 |
TK |
As you can see below, after
confirming a bounce, I bought the stock at 32.28. But, USG did not give me the
result I was waiting for right away. It began to consolidate just above the
20-period EMA. How long should I hold? Should I just wait till the stock stops
out? Let me give you one solution to this problem. Try to hold the stock up to 9
bars including your entry bar. If nothing happens, just close your position. Can
you see it? USG decided to move up on the 9th bar. That gave me a chance to exit
my position with a profit.
11:37:15
It hit our target. Sell the rest, or move stop higher.
T.Kamada
If you have questions, feel free to
mail them to me.