Europe - German Allianz Sell signal

[Tony Beckwith]

This is another example (unfolding NOW) of a simple Sell on a daily chart - with the added bonus of an automatic MTPredictor High Volume warning sign at the high...

Allianz (German stock) has just plunged through its 100% risk level on the MTP chart - so the initial protective stop can be lowered to break-even - from now on, this is a free trade - excellent risk control!

Whatever happens from now, this trade is well-protected.

Tony

[Tony Beckwith]

UPDATE

Price fell further yesterday and reached the 1st automatic target ...

The 1st 1/2 position stop can be lowered to 1 tick above the bar highs from now ...

The 2nd 1/2 position is still at break-even ...

Note: the potential Stop-&-Reverse long set-up is against the weekly trend ...

More updates to come ...

Tony

[Tony Beckwith]

UPDATE

Important Trade Management Lesson !!

1st 1/2 position = the protective stop can now be fixed 1 tick above the the last bar high (because price closed below the 1st target) ...

2nd 1/2 position = the protective stop can now trail 1 tick above the bar highs (because price reached the 2nd target) ...

Good risk control here

Tony

[Tony Beckwith]

RESULT

See the chart for the disciplined Trade Management on this short trade, in highly volatile market conditions.

RESULT +2.6x risk-controlled profit.

Tony