Breakout in TPX

This topic has 1 reply, 1 voice, and was last updated 12 years, 4 months ago by Steven Place.

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December 23, 2013 at 9:49 am #2524

Steven Place
Keymaster

This is a simple continuation pattern in TPX.

IF it breaks above 52 I will get long with a stop under 50.35.

Initial target will be 53.75, that’s where I will take off 1/2 risk.

The options are not that liquid so I will just play stock… but if you want to trade options I would look to the Jan 50 calls.

January 3, 2014 at 10:21 am #2525

Steven Place
Keymaster

53.75 was hit a few days ago, so a scale and a roll up of the stop is a good idea.

I’m moving my stop up to just under the lows from yesterday at 53.17
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