Swing Sets Target
Swing trade question?
I know when making a entry on a stock you want to buy close to the support level, but is there a set amount I should use that’s between entry and 1st resistance? Example: If I want to enter at $12.49 and first resistance is at $12.71 a difference of $0.22, is this appropriate?
Also when trying to determine a target price for a swing trade can a 2nd level of resistance be used?
Both of these questions are in regards to swing trades.
Trading is an art not a science. So the answer is yes to both your questions….. if that’s whats good for you. I would also use Fibonocci Retracements as another tool with this type of approach.
Good luck. There’s a great video for market close, every night, at this site… check it out;
http://www.alphatrends.net/
Golf Tips Proper Golf Alignment
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