Monday, October 18, 2010

CHGS forms pennant...

Personally I would not be comfortable initiating new long positions at this stage of the rally unless we get at least a 2 -3 week correction. However, swing trades are still setting up and for aggressive traders these set ups can still be taken. I would recommend smaller positions sizes and more aggressive profit taking like 2:1 instead of 3:1. Here is an example of the kind of set ups I look for.

Good luck and good trading!

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