At times I will mix in an anticipated P&F break out in order to gain a little extra return in a trade. ADBE is going to be the inaugural PTS-A trade. We are anticipating a break out above $43 and the downside risk in the trade is very small.
Establishing the position on Monday April 2nd, looking for an entry price of $41.75, we will see if we get it. Price Objective is $52 and we need to cut our losses is we break below $38.
Our Up/Down Ratio for the trade is a strong 3.75 - I believe it is closer to a 5.62 because I see support at $39.50, but the P&F trade parameters officially make is a 3.75.
1 comment:
A man after my own heart with P&F charts...good luck to you. I like ADBE here on the pullback.
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