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VISA 06/04/2016

VISA 06042016

I have exited my Long VISA (NYSE) position last night. My entry @ 70.10 and exit @ 77.10. As seen in the chart above, there was an inverted head and shoulder formation and price had successfully broke out the neckline @ 74.35. My original price target from this breakout was @ 80.50 and it seems like there is resistance @ 78.00, which confluences with the D of ABCD pattern.

I protected my profit and exited last night. I am still in favour of buying VISA when the price retraces to the neckline @ 74.65, maybe it can even go down to as low as @ 74.00 (50% fibo retracement point with Ichimoku Blue Line).

Possible Long Entry @ 74.65 to 74.00

Sincerely,

AJJ

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Posted on April 6, 2016, in Others and tagged . Bookmark the permalink. Leave a comment.

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