PDD LONG entry on breakout of downward trendline

As PDD broke its major downward trendline , a long position with a good reward to risk ratio can be entered with a tight stop.

Factors leading to the decision:
- The recent downtrend has been broken with decent volume
- The 20ma was broken and held, pulling in moving-average traders off the side-lines
- A recent low offers a perfect spot to put a logical technical stop

As always, respect a tight-stop. If it rips up, let it run and trail stops behind.

Commentaire:

Hitting resistance here, one could exit the trade, exit half, or let it ride

Transaction en cours:

Took off half the position here with an inverse hammer showing possible reversal incoming. 18% gain for the first half of the position. Keeping a tight trendline under the lows of the recent move and any close below that trendline will cause me to exit the remaining half

Transaction en cours:

Took off another 25 of the position. Letting the last ride up the ascending trendline under the recent lows

Trade fermée manuellement:

Taking the remaining 25% of the position off as it failed to gain a new high today. 34% move with leverage, I'm content.