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SAN - Possible Reversal
Hi guys,
I speend some this weekend identifying some trades for the upcoming week and I think I have found one which I would like to do.
san_20150412.png
The stock is SAN and I think I have identified some kind of reversal, as you can see there is a general uptrend and on position 1 and 2 we have seen a reversal after hammer candle has been formed.
On the end of the graph (pos 3), we see a similar figure.
Entry 7.40
Exit 7.90
Stop 7.00
What do you think?
I'm not gonna look up the ticker, but as far as entry and exit expectations, reading patterns and all that, you are absolutely on the right track, man. And the fact that you are making honest trade predictions is also really cool. Not many people are willing to be open about that right up front.
If it was me though, you've made your prediction, I would let it play out this week without putting real money up and just see where it goes. I'd watch your other picks too and see where they go. Keep us posted too. We all can learn from seeing how someone else's mind works just as much as you can learn from us.
Yes, this is a good advise. I have another trade on paper which is similar to that one.
For these both trades I have set entry, exit, stop/loss marks. Letss see how it goes. I will update this thread latest tomorrow evening.
So just took a look. We are slightly down at 7.31, when you take a look at the graph, it looks like that we are testing this support/resistance area.
In a real condition (doing paper trading right now), I would still hold on. Not much harm done and the STOP has not triggered.
The stock closed at 7.30 today, still undecided where to go from here.
We are still holding our stock, nothing bad happened so far.
