UBL: Stretching Up in a Complex Setup

Nov 16, 2017

Before trying this idea it should be noted this is a high risk long trade setup. The price has been rising up inside a main uptrend channel and currently just tested the baseline of this channel and tending to move inside an another baby channel. I would like to buy as close to the baseline of the baby channel as possible.

There would be a breakout situation beyond 1135, where the Bat Action Zone would be triggered. It may take the stock as high as 1173 which is the PRZ as well as a previous resistance zone. I ll take PP @ 1160.

Always follow your trade management rules before trading my ideas.

Trade safe, stay healthy.
Do hit the like button, b'coz you know why :)

Regards
Bravetotrade

Nov 17, 2017

Note

Bulls have a stronghold and price shooted outside the baby channel. I never had the opportunity to buy at the baseline but on breakout near 1145.
Already took partial @ 1160.

Nov 17, 2017

Trade closed: target reached

Nov 17, 2017

Note

Bearish BAT played its role very well. Price reversed exactly from PRZ and completed 38.2% and 61.8% targets.