LNC 0.00% 99.5¢ linc energy ltd

$2 is no far , page-28

  1. 2,480 Posts.
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    Sadeed, I certainly would not call an entry now 'a low risk one'. For one to qualify as such, it needs to be where direction can change, and for this to apply, it must be near a strong confirmed support or resistance zone. On a intraday chart, since early Wednesday morning, it has been a positive trend up, with higher highs and higher lows. BUT, on the daily chart, it is still a downtrend. It needs to break 2.02 for a higher high, before any chance of a start to a confirmed up trend. IMO, on my entry method, I would think I missed the boat if I was not in, and wait patiently for my next good set up. The market is always there.
    We are now in between and the chart will continue to develope.
    I still have 50% of my trade from Wednesday morning entry having taken profit at 1.745 late today as first resistance. I will see how the markets go over night, and depth chart tomorrow morning before deciding if letting the rest run further. 30% over 2 days on 50% means probably a tighter stop. I will be watching the 2.02 area, or decide before close how far I will stay. I am not sure yet how far the US will run before a correction or short pullback as the market could be near such a point.
 
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