FINCABLES on Breakout and with good volume; above 575 on Friday 10th Feb for Intraday gains -------------------------------------------------------------
INTRADAY Trading Strategy based on 3 stages of a breakout:
1) Impulse upmove stage: The strong upmove (nearly upto 2% from breakoutprice) happens within the first five to 15 minutes. "High Risk Traders" buys in hope of another 2% upmove intraday. "High Risk Traders" may have to patiently wait through the Pullback-Consolidation stage to realize profits. High risk/High reward set up as breakouts may fakeout (reversal)also
2) Pullback-Consolidation stage: After the above "Impulse upmove stage"; the price may then pull back and move sideways (between "Open" price and "High" of the above "Impulse upmove stage"). Safe traders with minimum risk profile may Wait for a breakout from the consolidation to enter at this stage to relize high profits in the final intraday final "Breakout continuation" stage
3) Breakout continuation: Stocks often in the third stage breaks up above the "High" of the first "Impulse upmove stage" and continue to go higher again.
Both Safe Traders/High Risk Traders may book profits at this stage
Stop Loss: You may keep the stop loss @ "Open" price of the day OR "Breakoutprice"
The above information is not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendation.
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opening at 572 reached 583 upon crossing the trigger price
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you may keep stoploss at 571 and target for 586
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classic behavior of a breakout... impulse upmove to 583 then consolidating around the trigger price of 575
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consoldation breakout to happen around 579
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trailing SL can be moved to 573
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consoldation breakout and continuation of bullish momentum to 583
Trade closed: target reached
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You may keep close trailing SL of 578 and continue the trade for further breakout of 583 OR book out @583