Finding EASY opportunities in the market🟢 Finding EASY opportunities in the market
NYSE:CQP is a great energy company with a very good dividend (over 5%) and a good price outlook.
Trading this stock is right now one of the easiest things to do in the market and I'll explain why I love to trade this kind of stock.
✅ What pattern is unfolding in CQP?
A classical triangle chart pattern is unfolding in $NYSE:CQP. Both trendlines are really easy to be drawn and has multiples tops and bottoms which make the support and resistance areas easy to find.
💰 How to trade this chart pattern?
This chart pattern can be traded in SO many ways.
The idea is to buy/sell near the support/resistance, so the risk/benefit is extremely good.
Sell zone #1
Sell almost at $62 (blue resistance line) with a tight stop of 3%. The take profits can be split as explained in the risk management section, but you can easily seek a 15% PROFIT.
Buy zone #1
Buy clearly over $62 (blue resistance line) with a tight stop of 3%. The take profits can be split as explained in the risk management section but 15 to 20% profit is reasonable for the pattern.
You can apply the same in buy and sell zone #2 adjusting SL to local support and resistance levels.
🛡️ The risk management strategy
As we have done in many previous ideas, remember you can split the position in two.
50% of the position with a take profit at least as large as your stop loss (adapt SL and this first TP to local support/resistance levels). In this case, a 4% TP for a 3% SL (see the chart).
50% of the position to a price as large as the previous pattern, which would mean a profit of 10%.
This almost guarantees that you'll be in a risk-free trade with a 1% return granted in a few days.
✴️ ENJOY AND FOLLOW for more 😊
