TSCO

Thanks T/S - just below the 50% mark (322.30)is where it closed at tonight - I will also be watching at 316 as that is the other possible sticking point. I am not a natural shorter I would always prefer to go long - missed out this am as on the phone on shorting AFC once it had gone up 25% (closed this p, at 16% up) but I will watch for a chance to get in long when it returns to the 30p's.

good luck, chart "ain't so simply as last one"..a few pivotal area worth being flexible at, but agree with your stops and targets (just add some flexibility with stop movement)




previous

I have been watching this one and after also seeing a rec to sell Tesco last week by Accendo at 321 and then seeing it down 1 today I got in at 325.35 to short it. Hoping it will go down to 306 (set limit at 307 and stop at 330 (just above next Fib line.)
Just checked it again now and it looks to be heading in the right direction. Fingers crossed as this is me back in the saddle after a bit of a break...

Generally (but not always) I look for 2 fibs levels in a trade, but am prepared to act as one level approaches e.g either sell half or sell it all..for me 306 would be the "quick scalp 1 fib level trade" and investment would be at 294 retrace targetted 2 fib levels and stop around 290...that gives a great risk/reward, however beware the gaps at support levels if they decide to take it lower..notice on the chart how at EXACTLY the previous gap it turned immediate resistance so for longer term 350 is a major resistance level and I'd probably see many bailing on an approach back 323 if it gets there......basically for tsco I'd risk only 1% for chance of quick 3% scalp but only at areas I've mentioned....going for 3-1 ratio means you can be wrong well over 50% of the time and still make money....where else does that happen!......I'd like to know as well!

Where would you be looking to take profit? Thnx Geela

306 and 294 opportunities soon?