CLF retro from the post made in 2015

CLF

A buddy of mine hit a nice swing home run on CLF. Up 25 % in profits

If you are not sure what to do and you are in a nice profitable trade , check or even better  ASK the price action for an answer  : this is the simplest explanation and it works for me

• HIGHER LOWS 
• HIGHER HIGHS 
• --------------------------  OR ?
• LOWER LOWS
• LOWER  HIGHS

Click on the pick from your PC to magnify and use arrow keys to move to next pick
CLF is big % mover so looking at intra-day action is important since big  % gains / losses may occur withing a single day.

 

CLF

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CLF area where it shall not go to stay long and strong

CLF where will it go from here ?

CLF 

If a trader happen to exit long position at 3.10 lower low, for establishing re-entry may help figuring out the next higher low higher high with risk below.  Fundamentals can be great but stock may drop lower before it gets higher. Why? Well, if fundamentals are great , the big boys would like to load up on lower prices, they will probably NOT CHASE the highs buying the  break outs, rather will be buying into the pull backs.

CLF right now is trending stock with very clear price action 

This happens with the markets 30 % of the time 

The other 70% of the time markets are choppy and non directional 

While 90 % of traders look for the directional trades ONLY , the 90 % of the traders ( or more ) lose money.

Stock will always make pull backs

If it makes new high I would not chase, I would  wait for the pull back , make sure the pull back is establishing higher low, and re-enter 

If you do not take some profits after great 25% move up in gains, and let it go back in negative , you will eat your hart out

It is just my opinion , been there done that , felt a lot of pain 

This is the post from March 2015 about CLF click here

Salute 

@Da Chopa