Europe - U.K. Reed Major Buy

[Tony Beckwith]

Hi to traders on the UK stock market

This is a great example of using MTPredictor EOD to find automatically Major set-ups on daily charts...

The Scanner - with the Advanced tab clicked and both ABC and Major ticked - found REL on 22nd Nov as a Major Advanced ABC buy set-up, at the Minimum price support, with a blue buy bar and above +2x risk/reward potential at the upside target...

Result: +3x profit, still open WITH THE PROTECTIVE STOP NOW AT BREAK-EVEN - A FREE TRADE...

Thanks

Tony.

[Tony Beckwith]

UPDATE

Now up at +4.5x profit, with the protective stop at break-even at least (as price reached 100% risk or 1:1 risk/reward)...

Thanks

Tony.

[Tony Beckwith]

UPDATE 2

Now at +5.3x profit, with the protective stop at, at the very least, break-even. Keeping this a free trade, one of the goals of all professional traders.

If you are using the trailing stop (not shown) to protect profits, you are currently protected on +1.8x profit...

Thanks

Tony

[Tony Beckwith]

UPDATE -

Price up into first/initial resistance area (Decision Point zone)...above +5x risk/reward, at least partial profit-taking can be considered....

Thanks

Tony.

[Tony Beckwith]

UPDATE

A quick update for those of you following this one...showing where the trailing stop is now - protecting open profit at +5.4x initial risk.

Thanks

Tony.