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Jim Greening wrote:
The reward/risk ratio is
> certainly great with the target at 92 just under the top of the LTUTC and the
> stop at 37 3/4 just under the bottom of the channel.
Jim and all,
When you set your mental stops relative to the trend lines, do you
require that the stock close above or below your stop before you buy or
sell. Or does the stock not need to close, but just exceed your stop
during the day, in order for you to take action.
Also, please assume a stock violates a trend line ( lets say rising for
the sake of argument) and begins marking out a Trader Vic 1-2-3
formation. And instead of nonconfirming the high prior to the trend line
violation, it confirms the high and resumes its uptrend. Question: do
you enlarge the previous channel to encompass this latest excursion. Or
do you begin a new channel with probably a different slope.
Thanks to you or anyone for advice and guidance.
Jim DeWilder
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