Babcock

Completed a 123 low with a MACD divergence on weekly, bounced from 200ma also

Need the backtest as I missed the break.

Opinions/corrections appreciated.

Has backtested the breakout today if I am reading it correct, just don't feel confident to enter for some reason??

The stops on this one would be below the 2 point which is 956.If it goes below this then it would be a false 123 low breakout


dl.dropboxusercontent.com/u/4899609/bab8thapril2015.png

As always, appreciate your input!

Thanks Remo

If you want to have a tighter stop then place your stop below the new trend line. This is currently at 976 so the risk is just small compared to 956. A break of this trendline could signal a false breakout of the 123 low formation . As true break outs tend to move away fast
im long on this with my stops currently below 976


dl.dropboxusercontent.com/u/4899609/bab9thapril2015.png

Thanks again, was not tight enough for my liking but was considering the trend line as you mentioned.

Very similar with the 123 on Premier oil, any views on this?

Appreciated