Tuesday, August 9, 2011

Trade Idea

It seems that a counter-trend is forming. We saw the relative strength of the carbon and now the trendline breakout is confirming this. The main trend is still bearish, but one could consider trading this long setup with reduced position size and with a stoploss at 10.40.

Just a quick update on this trade: the price move was intense in favour of the position due to clearing the short stops above 11.00. The stop can be moved now to 10.90 entry point.

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