Analysis for educational purposes only. I am not a registered analyst.
- In the Daily chart, we see a breakout of All Time High (ATH). - ATH is retested which is an ideal entry point. - Set SL as previous low or in cases where there are other lows close by, choose the lowest one. - Calculate the possible loss assuming the stock hits SL - If you are OK with the calculated loss, enter OR wait for a suitable entry. - Trail the SL at every new Higher Low. - Wait for breakdown of a Higher Low OR Target