The setp up its market and sector dependent, as its all along the same neighbourhood. We need upward confirmation on any major player in the sector, cgc, tlry or cron(for mega corfimation). However this is fanteastic risk reward entry at the bottom if you are game
It is a great trade because the risk reward factor its perfect
We enter the trade at the bottom with a stop right there below 1.07, if it drops we re enter at the next support, early 90s..
Trailstop tight all the way up, but once you are out of the pennant and cross the trendline resistance, you can relax the stop to the higher dolar moves as the volatility will increase as itapproacehs and leaves each resistance.
Recoommended trade size////1000 shares just a thought
good luck!
It is a great trade because the risk reward factor its perfect
We enter the trade at the bottom with a stop right there below 1.07, if it drops we re enter at the next support, early 90s..
Trailstop tight all the way up, but once you are out of the pennant and cross the trendline resistance, you can relax the stop to the higher dolar moves as the volatility will increase as itapproacehs and leaves each resistance.
Recoommended trade size////1000 shares just a thought
good luck!
