Buyer says, he is risking one dollar to make 2 dollars as he intends to sell above 3. Normally one should look for risk reward of 1 for 3.
I have put in here retracement levels on the way up when SGH bounces. Can any one find that message and post it.
I rememebr i have written that on the way up stocks and markets can easikly retrace 50% of the total down move which here is approximately 760 cents on fall from 810 to fifties. so if we add half of 760 which is 380 to 54 it comes to approximately say 434.
So in the reversal scenario, i will keep my eyes on 434 level.
We will keep reviewing the price action and performance as it happens on the end of the day chart .
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