How would you trade this

Quote from ctrader:

Looks like a reversal. Trying a long here at 5.60, stop below todays low.
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Don't jump too soon.

the wake up call is in though.

there is alwayssome smart money in the picture.

Better look at the corp web site to pull down all the pending anouncements vis a vis theend of the Q. They usually do some "provisional" early bird stuff.

you can see how the price will go down to your line to "kick off"

The slpe of the rising trend will be set by the first pullback after the break out. The break out slpe is steep, then a pullback occrs
then the trend takes off again for the five day run up of 15 to 20%.

Good luck.
 
Connect some of the daily H's to get a short term lateral channel.

It is this channel break out that is the proof of the pudding for beginners. I'm not saying you are a beginner but a lot of the posters here are. The 5.75 stop is humor from a troll.
 
Quote from ctrader:



Interesting.. you would short this? Probably if the trendline breaks?
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Yep, but I'm just a "troll" after all, apparently. :D

It's important to analyze charts in more than one time frame, if one is a "troll" and expects to make money in the markets. "Trolls" also notice that trends in higher time frames have more strength than those in lower frames.

You'll see from the chart that CHRS is butting up against the 200 eMA on the monthly (the pretty blue line to non-trolls). And, it has essentially 6 nonred bars in a row, as well as Stochs in the overbought zone (but not turned as of yet). Finally, note the declining volume on green bars (the light blue lines in volume for non-trolls).

EDIT: Wow, pretty tight limit on space, can't UL a quarter meg file, so we'll be chartless. Just pull up the monthly and the weekly and see what ya think.

If I were you, I'd also be studying the weekly time frame. Haven't seen it, but I expect it will also show more weakness than is apparent in the daily. Just a hunch from a "troll". :D
 
Here is an up day on the original chart with the price bars that filled in.

Plan on sell ing about day 5.

We are on day 2 today.

You can now see how the daily stops work. They come close as you see. This means you have them set correctly. If you wish loosen them upa little so as to not fret.
 

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