Trade Idea #1
Trade: #SCI Breakout Retest
Instrument: #SCI
Signal: Buy signal triggered by a breakout retest at a previous resistance level, now acting as support in the range of 105-110.
Direction: Going long
Entry: Consider entering within the range of 105-110.
Exit Targets:
1st Target: 200 (short term)
2nd Target: 500
3rd Target: 700
Time Frame: 5 - 6 years (long-term)
Risk Management: Adjust position size to manage risk and ensure adherence to the defined stop loss.
System Explanation
Trading Strategy: #SCI Breakout Retest
Explainer
The #SCI Breakout Retest strategy aims to capture potential price increases in the stock #SCI.
Signal: When the stock's price breaks above a resistance level and then retests it as a support within the range of 105-110, it's a signal to consider buying.
Basis: #SCI has a history of following this pattern, making the trade idea more dependable.
Direction: The strategy recommends taking a long position, assuming the price will continue to rise after the retest.
Trade Rules: Buy when the price is between 105-110. Set three targets: 200 (short term), 500, and 700 for the long term.
Time Frame: Plan for a 5 - 6-year period for the trade to unfold.
Risk Management: Adjust your investment amount (position size) and stick to the stop loss to manage risk effectively.