INDIGO. Base Formation. Long Idea
Updated
Share price of ITERGLOBE AVIATION, has been consolidating between 4350 and 4200 for a month now. If price breaks above 4350, it can be a good opportunity to enter a long trade with a stop loss of 4150. Holding onto the trade and trailing stop losses is advised for this trade, since it has gone through such a long consolidation, hence the move could likely be equally long.
#Only for educational purpose.
#Only for educational purpose.
Trade active
15/07/2024 10:13 am.Entered trade @ 4380. Stop loss of 4150. No definitive targets. Trailing stop loss strategy in this trade.
Note
Update 23/08/2024 11:03 am.
Patience is the key in markets. Took more than a month but now the stock is finally moving and making all time highs. Trailing stop loss of 4200 now.
Note
Update 28/08/2024 10:25 am.
Trailing stop loss to: just below the breakout low - 4370.
New trailing stop loss of 4350.
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