Thursday, August 02, 2012

Trinity Mirror

Here is a chart that shows the patience required to wait for an appropriate signal before entering a position. UK stock Trinity Mirror had been in a pronounced downtrend since March, but price action had levelled out and consolidated throughout June and July.

Yesterday a long signal was finally given, and if you had entered on the breakout then you would now be sitting on a near +3R profit in one day. Whether this trend will develop further is anyone's guess, but this again shows the value of waiting until you get an appropriate entry signal before committing your funds.

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