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[Previous entry: "GOOG trade update."] [Main Index] [Next entry: "Question about 4 hour charts."]
07/06/2007 Archived Entry: "GOOG trade hits profit target."
Google has hit our profit target and triggered an exit for intra-day traders. A partial exit is appropriate at this time, and a full exit would be determined if a pullback initiates. The next step is to wait for a pull-back for re-entry, or to trade a different chart. For longer time-frames, the daily chart has not yet triggered an exit. See prior GOOG updates below for the ProfitPoint (target) and how the trade developed. See the attached 60-minute chart. The TRSI cross up near the 40 level while price is supporting at the blue Fibonacci level was the trigger. The exit is the recent cross down of TRSI (Gray cross over blue lines).
Click here to see Google chart in new window. This is the last update on GOOG. FOREX and E-Mini traders would like an update too.. -Neal.
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