[edit from Joe, 5/7] “FYI I have moved the HBM stop up to just above entry so if it poops the bed I’m out essentially flat.”
Joe passed along a little tidbit of how he will look at trades in the live Discord group for NFTRH++. It occurs to me that he may wish to post directly at the site, as per this post. Maybe even a combo of presenting setups here and having discussion at Discord. Oh, the possibilities. Just getting started.
From Joe:
1st chart setup is HBM. 50c stop around $7 vs a 8.75-9.25 c=a measured move target. Opportunity to add on a break above 8.66, trim at the 200dg, trail for a break above the 200dg into measured move around $9. Adjust stops up to entry at 7.43 if it starts to work.
Long 2K shares at 7.425
Stop at 6.95
NFTRH++ trade setup ideas are presented for consideration and further research only, not as recommendations. I am not an investment adviser and these are trade ideas for each to consider on their own.
Guys, the monthly! The monthly!!
You are doing yourselves a disservice if you fail to mention the LT upside optionality to ~30ish.
Great setup; tight ST trade but if you are “wrong” and it goes higher you have potential to “fail” upwards. Meanwhile, even if your stop doesn’t hold you can only lose 100%.
Upside 300%, downside 100%, 3:1 ratio. Very good.
Thank you; the Gary and Joe show is going to be fun!
Well, with this trader stuff, especially options, it’s going to be the Joe and maybe sometimes Gary show. Gary = not astute, especially with options.
It’s all about timeframe. At least in this instance, and likely in the early days, I will be posting shorter term swing trade setups vs longer term position trading. Each person can have a different assessment of upside/downside and over what time horizon and that may be independent or in tandem with a shorter term and more modest price objective.
As a side note, I think $HBM is a takeout and won’t last that long on the shelf.
Also I trimmed on the 200d pop today and lifting stops to protect gains.