CONTINUATION to previous breakout idea
TRADING PSYCHOLOGY : The stock forms a triangle pattern when the tug of war between BULLS and BEARS is at the end stage where one is bound to give up. we have to wait patiently till one gives up. once the bull/bear gives up we go with the winning side and reap the benefits.
HERE you can see even though market opened negative once the graph penetrated into our triangle how it followed the triangle support and resistance levels. The bears lost control 14:15 ( breaking out the resistance line with increasing volume ) and the stock moved UP.
WHEN TO TRADE : one should enter 14:15.
STOP LOSS: safe players can keep resistance line as stop loss risky players can keep support line as stop loss.
HERE you can see even though market opened negative once the graph penetrated into our triangle how it followed the triangle support and resistance levels. The bears lost control 14:15 ( breaking out the resistance line with increasing volume ) and the stock moved UP.
WHEN TO TRADE : one should enter 14:15.
STOP LOSS: safe players can keep resistance line as stop loss risky players can keep support line as stop loss.
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