Comments on: BITA Trade Setup https://rightsideofthechart.com/bita-trade-setup/ Stock Trading, Investing & Market Analysis Thu, 09 Mar 2017 02:19:52 +0000 hourly 1 https://wordpress.org/?v=6.9.4 By: rsotc https://rightsideofthechart.com/bita-trade-setup/#comment-1417 Mon, 25 Apr 2016 17:53:54 +0000 http://rightsideofthechart.com/?p=170908#comment-1417 As of now, yes, BITA is still a trade setup with the same entry criterion of a break over 30.22. Sometimes the bullish (or bearish) nature the chart pattern on a trade setup will dissipate before prices even more above (or below) the trigger price. However, that hasn’t been the case on this one just yet as it is not uncommon to see at least one reaction on the initial tag of the neckline once the right shoulder has been finalized, such as the case with BITA.

The pattern still looks intact so I’ll leave it on as a trade setup for now. I should also mention that sometimes H&S patterns and IHS patters, like this one, sometimes form two right shoulders or two left shoulders instead of one. Therefore, BITA could pullback once more to around the 23.30ish area if it reversed there to put in a possible 2nd right shoulder, still keeping the setup in play. However, if it moves much below 23.00, the symmetry to the pattern wouldn’t be intact anymore & I will remove this one from the trade setups category.

]]> By: Gaucho https://rightsideofthechart.com/bita-trade-setup/#comment-1416 Mon, 25 Apr 2016 17:17:19 +0000 http://rightsideofthechart.com/?p=170908#comment-1416 Hi Randy,

BITA reached the stop (25.70) before trigger the long entry on a break above 30.22.

My question is: if the long entry on a break above 30.22 is still valid?

Regards

]]> By: HiddenPivots https://rightsideofthechart.com/bita-trade-setup/#comment-1324 Thu, 14 Apr 2016 16:04:08 +0000 http://rightsideofthechart.com/?p=170908#comment-1324 Thanks Randy, Nice chart! Lets keep an eye on BITA as it consolidates.

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