Australia: NCM rally profits

[Tony Beckwith]

Hi to traders and customers on the Australian markets

This is a reminder of good trades that can be found by scanning for TS4 set-ups (called Advanced ABCs in the current EOD 5.0)...

The Scanner is set to Advanced>Intermediate>ABC and automatically finds this set-up - the prior trend can be extended back to start lower than where the C ended...so it is a valid set-up.

Price in Minimum support; blue buy bar; above +2x profit potential at the 1st target.

Result: the initial protective stop is now at break-even for a free trade.

Tony.

[Tony Beckwith]

UPDATE

+1.5x profit at close today in Sydney.

Note: for traders using the trailing stop in their exit strategy, it is rising fast underneath the rallying price, to protect open profits.

Tony.

[Tony Beckwith]

UPDATE

+1.7x profit at close today in Sydney

Protective stop at least at break-even, for a free trade...trailing stop rising fast underneath the rallying price.


Tony

[Tony Beckwith]

UPDATE

2 charts...the second is a warning flag for the current long trade...

Training lesson - when you are comfortable with the standard MTPredictor analysis, you can easily use the other automated search routines in MTPredictor EOD to improve your trade management techniques.

Tony.