ABK - Lovely lovely Chart from a few days ago

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Bon
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ABK - Lovely lovely Chart from a few days ago

Post by Bon »

This really is a creamy trade, some may say GRAVY :-))) ;)

Certainly is Gravy from my point of view ! !

Anyway, this is a great Momentum Trade and would have netted a great return based on the set up here, almost perfection in my eyes, bags of time to play and extremely liquid - Great price to get a nice position too (1.60/1.70$ per share, lovely - Would have had 5k in my case).

So, look from the outset, the PreMarket action, then opening at a high, a risky entry on open but would have worked lovely - I most likely would NOT have taken that (rarely do), but after the sideways action and the final break and edge up, there are a few entry points I look at.

In my case, probably the first entry, holding 1.60, would have tried around 1.65 most likely with stop 1.55 - 10c risk, and almost certain to attack the high again, which would have locked in 10 - 15c, break of the high and you have to lock onto to a round number 2 target, and in this case that was met with absolute ease, I would have sold most of the position at 1.99 and held 1000 for the break.

Great Great Chart. Enjoy. :)
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ABK-GreatPattern.png
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Love2Trade
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Re: ABK - Lovely lovely Chart from a few days ago

Post by Love2Trade »

Do you think this is relevant to Futures, CL in particular ?
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Bon
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Re: ABK - Lovely lovely Chart from a few days ago

Post by Bon »

No, not really, hence it is in Stock Watch not the Futures section. ;)

Futures are a different beast and other more liquid stocks are too. The chart in question here is just typical of the stocks I like to trade - Low vol, low priced stocks which are gaining some volume and attention for whatever reason - I often don´t know why, and I don´t care why, I am in them a very short space of time.

For the record I prefer NQ stocks, although not limited to. I do not however like OTC or Pinks. But thats just me, I know many people who are very profitable with them all round.

Its just a heads up, as I said before, I know a lot of other people who like to play these too, they are fun and can be very profitable - unlike my experiences when running the gauntlet with AAPL and Co.
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MonkeyTrader
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Re: ABK - Lovely lovely Chart from a few days ago

Post by MonkeyTrader »

Cool chart Bon. Im off stocks at the moment too. Having fun with the Futures :D :D :D :D :D :D
I really don´t mind being on the other side of your trade.
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