Monday, January 28, 2013

Some recent set ups

When a potential entry signal is given, ideally what you are looking for is a convincing breakout from the consolidation area in which price has been residing. In the best trades, price never reverses and re-visits that consolidation area - in a long trade, for example, the entry level that maximises the potential reward against the risks is the prior resistance level. Once price has broken out, then this level may be re-visited (resistance becoming support) but shouldn't be breached.

Below are some charts of signals discussed among myself and the other traders in the mentoring programme within the last few days that have exhibited these characteristics very well. Once you know what to look for, its just a question of using good risk control, placing your bets and seeing what happens.

If you want to take advantage and learn how we identify these set ups, then consider either obtaining the e-book which outlines the system we use and gives you the parameters and scan code to find stocks that meet our criteria, or go a stage further and join the discussion with myself and the small band of traders in the mentoring programme (remember if you have previously bought the e-book, then you are entitled to a discount when enrolling in the programme).

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