Australia - COH good sell profit

[Tony Beckwith]

Hi to traders on the Australian markets

MTPredictor EOD found this excellent trade set-up on COH [ASX200 component stock]

A Minor level Advanced ABC (TS4) sell set-up (valid because the prior uptrend can be extended higher than the correction high): price in Minimum resistance; red sell bar; above +2x profit potential; supportive black trend indicator...

Result: still open at +3.1x profit.

Training lesson: Simple - minor level ABC set-ups are worth checking if they meet our usual requirements (especially in small universes such as the ASX200 stocks, FTSE100 stocks and so on).

Thanks

Tony.

[Tony Beckwith]

UPDATE

Closed today on +3.6x profit (risk/reward of 3.6:1)....

Risk-controlled all the way

Thanks

Tony.

[Tony Beckwith]

UPDATE

+4x profit at Friday's close

Tight risk-control all the way down, including lowering the initial protective stop to at least break-even (as in the earlier post)...

Thanks

Tony.

[Tony Beckwith]

UPDATE

COH ends the week in Sydney at +4.7x profit - an excellent risk-controlled trade, automatically found by the MTPredictor EOD Scanner.

Thanks

Tony.

[Tony Beckwith]

UPDATE 5 March 08

+5x profit at today's close in Sydney

An excellent, risk-controlled trade...

Tony.