SOUTHBANK: Daily Breakout target hit. What next?
Analysis for educational purposes only. I am not a registered analyst.
This is continuation of:
Target reached today 24th Jan. what next?
Possible options:
- exit fully
- exit partially
How to plan for exit?
- Is there another target nearby? Yes there is. Join previous HH in monthly chart.
- Do we see a breakout in another timeframe? Price is close to breakout in Monthly chart. If the wait till the month end is not risky, then possibly hold 2/3rd till either second target is reached or breakout fails.
- If the breakout fails or reaches second target, can close another 1/3rd position
Stop Loss: It's still at the daily Higher Low.
Enter/Hold a stock if we know our stop loss and are okay with risk associated with the computed loss.
This is continuation of:
Target reached today 24th Jan. what next?
Possible options:
- exit fully
- exit partially
How to plan for exit?
- Is there another target nearby? Yes there is. Join previous HH in monthly chart.
- Do we see a breakout in another timeframe? Price is close to breakout in Monthly chart. If the wait till the month end is not risky, then possibly hold 2/3rd till either second target is reached or breakout fails.
- If the breakout fails or reaches second target, can close another 1/3rd position
Stop Loss: It's still at the daily Higher Low.
Enter/Hold a stock if we know our stop loss and are okay with risk associated with the computed loss.
Trade closed: target reached
