Tuesday, January 29, 2013

US Bancorp (USB) signal


US Bancorp last day candle closed in the shadow of the previous day candle.


Put two pending orders: one a little above the last candle's maximum and another - a little below last candle's minimum. Then —Āonditionally divide each order into three parts.

BUY order

Entry price: 33.28

1st part

Take profit: after 5 completed trading days
Stop loss: 32.97
If Stop loss order fires then automatically put the same Sell order with the same Take profit

2nd part

Take profit: 5 days trailing stop
Stop loss: 32.97
No need to put the same Sell order

3rd part

Take profit: 34.21 (423.6 Fibo level)
Stop loss: 32.97
If Stop loss order fires then automatically put the same Sell order with Take profit at 32.04 (another 423.6 Fibo level)

SELL order

Entry price: 32.97

1st part

Take profit: after 5 completed trading days
Stop loss: 33.28
If Stop loss order fires then automatically put the same Buy order with the same Take profit

2nd part

Take profit: 5 days trailing stop
Stop loss: 33.28
No need to put the same Buy order

3rd part

Take profit: 32.04 (423.6 Fibo level)
Stop loss: 33.28
If Stop loss order fires then automatically put the same Buy order with Take profit at 34.21 (another 423.6 Fibo level)

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