MSFT Long Trade Plan off Poor Results
MSFT's poor results has dropped it straight into an objective
level of longterm demand from a weekly pivot low
in Nov 2014 where price rocketed off. it is my hope that there
are left over buy orders at this level that will trigger a rally
(above 43.18 and hit my buy stop).
I will implement a time based stop on this trade...
IMHO Momentum should step straight into this trade so if
it's not working in 2-3 bars I'l exit it.
UPDATE: 29th Jan 2015
Luckily as you can see this trade did not trigger, my long entry was a tick above 43.18 and price just tanked from the open. I'm still looking for a long though, next level I'm interested in is 39.47, the next objective weekly demand level IMHO.
level of longterm demand from a weekly pivot low
in Nov 2014 where price rocketed off. it is my hope that there
are left over buy orders at this level that will trigger a rally
(above 43.18 and hit my buy stop).
I will implement a time based stop on this trade...
IMHO Momentum should step straight into this trade so if
it's not working in 2-3 bars I'l exit it.
UPDATE: 29th Jan 2015
Luckily as you can see this trade did not trigger, my long entry was a tick above 43.18 and price just tanked from the open. I'm still looking for a long though, next level I'm interested in is 39.47, the next objective weekly demand level IMHO.
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