Morning ... while I m trading UPTRENDING NEW HIGH for past months (DC theme play) ... let me take a look at those case which are 52w high, bottoming out from the crash.
Using AEMULUS as an example ... it is just for learning purposes. Perhaps I shall take it for back-testing to see if it works.
This is a year time from chart. There is NO REASON for entry at current price tho it is near support. SUPPORT IS NOT A BUY.
higher-low ... highest point 47.5 ...buy only if ABOVE 45cents for breakout.
what if we want to enter now? U need to ask yourself what strategy u would be using? Stoc-crossover , oversold? support 100MA? what is in your mind for entry --- mechanical and technical ... your opinions are NOT needed and are noises.
entry CRITERIA is very important as it determines our strategy. in this case, it is BUYING ON PULLBACK but without entry SIGNALS, no reason to buy in ... and how about the exit point? EXIT strategy is depending on our ENTRY strategy OK? understand trading?
So ... if I m going to trade AEMULUS (I won't as I only BUY UPTREND BREAKOUT currently) , I would wait for stoc-crossover. then decide on the position size, and the risk level. It looks good if it cross as it is pullback nearing 100MA and we could ride it up ... add on breakout of 45cents!!
ALWAYS stick to a system, to be able to be consistent.
So ... ask if u don't understand the AEMULUS chart here and the strategy we could be applying in this case.
As I m not taking AEMULUS, i wont mind checking on it.
note : A FB friend is interested to buy AEMULUS ... I wondered why?
This is not a buy-sell call but rather a simple analysis by UNCLE me ...
Over the years, I have determined the strategy to apply in my trades ...and just pointing out how we COULD trade AEMULUS ...
TEH
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