Evening Update: Know Your Stops

As I posted this morning my parameters for the suggested trade I set my stop at $42. It was a small order but nonetheless I was obviously stopped out. If you're in the trade still please know what your risk levels are and establish stops. I have posted many times, I'm not a trader. SO for me to get stopped out and then price run away from me is kind of a running joke.

However I've chosen to include a link to a 3 minute chart. This micro chart shows we have a clear 5 wave impulse up and so far only 3 waves down. So even though I got stopped out this still appears to be a good trade.

If price tonight or tomorrow takes out $47...it may rip to the upside. I say "May" rip....only because this is still a wave 4 so remain vigilant. I'll continue to update on this trade until we breach today's low in which case it's a busted pattern and no one should still be in this set up.


Best to all,

Chris