Yesterday I posted my IMMU trade results (see below) and today I wanted to comment a bit.
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I also have a chart available:
My biggest question on this trade is whether I exited too soon or not.
I usually set my stops based on prior days lows. My most common stop is one tick below the prior day’s low. But sometimes, specialy during steap uptrends, I will keep the low from a couple of days before in place. Yesterday, IMMU crossed below Wednesday’s low but not by much and I ended up bailing out anyway to protect my gains. Looking at the chart, I see the Stochastics still strong and very little volume support to the decrease in price. This leads me to believe in may be a very temporary situation and *not* the end of the trend up. The price may just pullback towards the trend line, around 2.25 and keep going up from there.
Either way I am out with my 4.75R banked in but I may have missed on more profits from this updrend by exiting the trade a little prematurely.