Aggreko

possible long ???
This is currently back testing the breakout point of the trend line from yesterday.
This trend line was the down trend line thats been in play for a long time.Since September 2012.



dl.dropboxusercontent.com/u/4899609/aggk17thdec2013.png

The power of a 123 low breakout
This should be a free trade now...Thanks to waverider for highlighting this.
This should head towards 1697 where i will be shorting this on a first attempt and closing my longs.
Theres also strong resistance at 1656.


dl.dropboxusercontent.com/u/4899609/aggk28thoct.png

If you look closely you can see how beautifully this back tested the 123 low breakout on friday.Perfect entry

CT79 wrote: Remo, if this closes above the breakout would you have the stop loss below todays candle or below 2 @ 1440 area?

Hi CT79
Once you have taken your first profit (target) then you would move your stop loss to break even.
I normally have my stop below the 2 point until its reached my first target.For this company my first target is 1553 then id move my stops to break even.

if you move the stops to soon then you risk being bailed out before the big moves.Atleast with 123 lows you know exactly where the stops should go The downside of a 123 low is the big stops that can be attached.

Remo, if this closes above the breakout would you have the stop loss below todays candle or below 2 @ 1440 area?

Hi waverider2
This has a nice 123 low breakout on this today.So hopefully a change in trend.This should head towards 1556 and once that clears then it could head towards the down trend line.(1700)


dl.dropboxusercontent.com/u/4899609/aggk24thoct.png

I have just opened up a long position today based on the 4hour chart.

Please can someone care to put some TA on this?

thanks