T4 now hit for a 54% profit from entry. consider booking all profits if still long or at least raising profits. moving FORD to the completed trades category now. all charts in order as posted.
actually FORD just hit 2.18 vs. my 3rd target of 2.20 and as i often say, i like to sell just shy of resistance to assure a fill. this is actually one of my last remaining longs and i am selling all shares here. like so many of the longs posted here in the last month or so, the FORD chart looks to me to have more upside if/as the market moves higher from here so any longer-term swing traders or investors who took it, you can decided whether to take some profits or just raise your stops. this one was [...]
i also added a new target (revised T3) in the updated chart below. i will now add this post in both the active and completed trades since it would be book some or all profits here due to the large percentage gains since the original post. if the T2 resistance area is clear, then T3 will likely be hit although FORD may need to pullback or consolidate first. i just don't have a good enough read on the intraday charts to tell whether FORD pulls back or keeps running higher in the near term so set you stops and targets according [...]
well that was quick. a big move earlier today in the FORD long i posted on monday brought it up to T1 and then some. i bought this in one of my longer-term accts (not trading acct) so didn't even notice until now. still plan on keeping it as a hedge to my shorts for now and possibly holding out for one of the higher targets. note that i did add one more target between the earlier T1 and T2 level.
Posted by: rp on the 9th of Jan 2012 at 11:59 am note: this is NOT the auto maker (F). FORD manufactures rubber and plastics. i just bought a small starter position for an intermediate to long-term swing trade. need to see some volume start to come in before i add any more. notes on charts (weekly and daily charts below). [/fusion_builder_column][/fusion_builder_row][/fusion_builder_container]