BAE SYSTEMS

dl.dropboxusercontent.com/u/7238706/BAE%20SYS..png
There would appear to be the opportunity of a decent short here. Some might prefer to wait for a test of 419 for entry but 354 would appear to be a reasonable target both mathematically and as an active support level. There is also a gap at 333. Stop would need to be above 460.
This is merely a heads-up and not a recommendation so please DYOR.

Appreciate your kind words Libero.

I normally close half of my position at 1:1 R: R or near a previous high which would have been near 400 for BAE in this instance. Then live the rest to run as a free trade up to 1:3 R:R for stocks and may be 1:4 sometimes for Forex if there is a strong technical reason.

Glad you took the trade. I didn't look at the chart yesterday...it made a 123 breakout and could have entered yesterday as well but only caught my eye today when I was Scanning FTSE 100 Stocks!

I took couple of other Long trades today will post a chart soon when I get some time

Don't be discouraged Red Chilly.

I took the trade last thurs (@ 380.9), and exited today (@396.9) - as the technicals were sound; *but*, if it wasn't for *your* validation, I would have doubted myself, and would have opted out of it.

(I guess I owe you a drink at the next CV meet up!)

Looking at your posts and Remo's posts, the % of potentially successful trades is remarkable.

Deutsche Bank get less than 40% of their trades right, UBS fares a bit better at 55% (admittedly, they use a wider set of instruments), so don't go kicking yourself - the probability points to you getting another great trade - and soon!

Interested to know why you favour a 1:2 R:R ratio though. I tend to favour 1:3 or 1:4 sometimes.

Keep at it!

This is flying & I'm kicking myself


Oh well! may be some other day but can't stop feeling gutted....that was a 1:2 R:R ratio trade out the window

gap down this morning...don't like it
bad news?? don't know lol
Closed at near breakeven

Long @ 380
SL below 371
Target 400