I will cover on an X day high and tomorrow X = 5. The 20day exponential atr is 1.19 and If it moves up twice that I would also cover or if it moves up 1n from today's low and I have something else to trade I might move to that.
That's what I figured. Unless we are looking at two different data sources I think the next low would actually be that $48.42 I referenced from 3/1 as opposed to the 48.08 you referenced.
If today�s cover price was 50.08 vs. yesterdays high of 50.07; what extra factors cause you to have a new cover figure of 50.86 rather than 49.35 vs. today�s high of 49.34? I would think your cover price would continue to become a lower figure as the stock price comes down IOT get you out at a price that is continually lower and lower. I.e. 50.08 today, 49.35 tomorrow, 49.03, 48.82, etc. (the last two being random, hypothetical figures). I'm sure it has something to do with ATR but I'm not sure what timeframe you're using for your ATR (1 day, 1wk, 10days?).
sorry 49.35 and 48.08 are the correct numbers I somehow saw 49.30 as today's high and mistyped the 48. My timeframe isn't one day or time any period at all... its 'until it goes up'. I will exit tomorrow if it hits 50.86 or I have a better trade.
"A one day high for tomorow means it will need to hit 49.31 thats not a prediction btw just a fact. To keep it in perspective thats a one day high vs today's 52session low of 48.48. And to get to the next low (from 3/2) would mean a price of 49.08 ."
--> Perhaps you could expand on that quote a bit. 1) If your timeframe is 1 day (as opposed to 1wk, 1mnth, 6mnth, 52wk, etc.) then wouldn't a new "one day high" be set at 49.35 since today's high was 49.34? Assuming 49.35 is the actual figure, are you saying you would sell above that point?
2) How can the next low be at a price of "49.08" when it's already below that? It seems to me that the next low would be set if it went below 48.42 (3/1). Can you explain how you got your numbers?
Good Investing to all!!!
I'm talking about the price and you're talking about profit. I am only concerned with the price, the profit either happens or it doesn't.
It has to make a least a one day high before we can say its 'going up' right? Instead its making new lows. A one day high for tomorow means it will need to hit 49.31 thats not a prediction btw just a fact. To keep it in perspective thats a one day high vs today's 52session low of 48.48. And to get to the next low (from 3/2) would mean a price of 49.08 .
"It makes no sense to take a small profit erts is going down until it goes up."
-->That's what I'm talking about. It went down to $48.64 (a potential 1.24 profit) yesterday then it worked up to as much as $49.34 (only a .54 profit) today. How's that not going down "until it goes up"?
Good Investing to all!!!