About Me
- Ju
- Passionate about the markets and Technical Analysis. The learning never stops!
Sunday, April 9, 2017
Spackman - Follow up on this harmonic swing trade (profitable trade)
On March 26, I spotted a Bulllish Bat/Gartley pattern (see the original post here) and the plan was to enter between 0.16 to 0.163. The next day, Spackman traded between 0.158 to 0.165, making the entry possible. However, it continued to whipsaw about between 0.167 and 0.157 for the 7 days (not easy on the emotions, even though the inital stop loss just below 01.54 was not triggered).
Finally on 6 April, Spackman finally making a decisive move up, hitting a high of 0.182 yesterday!
Entering at 0.163 and taking partial profits at 0.18 would have yielded a gross profit of 10.4% in less than 2 weeks, not too bad. For the rest, I would advise to trail the stops to just a tick or 2 below the last candle low of 0.175. I would consider to take another 1/3 (or even all) the profits around 0.19 where there is possible resistence coming up there.
The more gutsy could attempt to hold to see if it is possible to reach 0.205 (trailing the stops up).
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