sticking to a Trading plan is an essential part of Trading otherwise its too easy to get caught up in the hype and greed and let your profits dissapear .
it has taken me a long time to relize Discipline in exiting at a set price target dictated by previous chart patterns , Paitence to wait for breakout signals and nerve to sell when the damm price looks as if its going to the moon, is the best approach to trading for me anyway .
off course l use instinct trading where no major pattern is occuring these are usually short term trades from which l exit quickly .
WHN in my interpretation..
A breakout occured from an ascending Triangle pattern at a close of .042 with good volume a HIKKAKE (means Fake out )then occured to shake out the weak hands before continuing on to the resisitance point of .052 yesterdays close .
also if you measure the distance from the H/S neckline to the high of 5.2 cents which occured in March the distance is excactly the same as the high from .042 - .059 cents which occured today
Selling half Yesterday was a great move and selling the rest today again showed the importance of a disciplined approach .
cheers.
QFY Price at posting:
5.5¢ Sentiment: Hold Disclosure: Held
