The following trades will be removed from the Active Trades- Long category and re-categorized as Completed Trades. All but one of these are gold or silver stocks in which I had previously stated my preference for taking profits at the first targets as I suspected that the breakout on the mining sector would be sold into early. Most did hit those initial targets, offering the chance to take full or partial profits but all have pulled back sharply since then and may likely continue lower before putting in a more lasting bottom. SSRI: Hit T1 (first target) for a 6% gain [...]
THM did manage to print a 60 minute close above the 1.50 resistance level, therefore, providing an entry at the first tick of the next candlestick (1.54). As this is such a low-priced (and again, higher risk) stock, every penny & a half accounts for a 1% gain or loss. Therefore, I would consider using slightly higher stops than previously suggested, using no less than a 3:1 R/R to your preferred target. Also keep in mind that although only two profit targets are shown at this time, I may very well add an additional profit target just below that uppermost horizontal [...]
THM is a low priced (translation: higher risk/higher return potential) mining stock that looks to be pushing against horizontal resistance here at 1.50. To help minimize the risk of a false breakout, consider a long entry on a 60 minute close above that level. Consider a stop under 1.47 if targeting T1 and a stop below 1.44 if targeting T2, which is the current final target at this time. 60 minute chart shown.