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Kevin,
Since no one else wants to comment....
TQNT retraced to the .618, below which you would have a stop-loss..
You may have entered when it retraced to .382, but would not have
yet been able to enter at the rally beyond the point of recognition.
Since your .618 stop would not be hit, you are in a RRT entry that
looks like it's fizzling (sideways consolidation). A RRT is not intended to
be a patient fizzling trade.. So you'd be looking to exit near break-even
or minor profit. There have been opportunities to do that already.
Sure, it may reach a RRT profit objective, but if it doesn't start in that
direction
real soon, I'd be comfortable with the break-even exit.
Nice example of a low-risk trade that didn't work!
A deeper more extreme RRT would be more reliable.
-Neal.
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