Thomas cook - TCG

Hoping sell off before close was just usual Friday profit taking and the rise will continue next week to 147 (or even higher).

RC/TF Should we be concerned about bearish shooting star today?

Hi Count,

It depends on your entry & R/R ratio

My entry was at 131 with a SL of 123 - risk of 8 points

I took some profit (closed half ) at 139 which is 1:1 R:R for my trade
For the rest i've moved SL to above breakeven so its a free trade

I dont see yesterdays candle as a bearish shooting star as its at the start of an uptrend and not at the end

I see it as a continuation candle - its a green candle and close was high than the open - also it made a HH and HL compared to yesterdays candle - so the momentum is still to the upside

On monday if it makes a red candle or a LH and a LL - then we may see a pullback to the trendline/breakout point

I have a take profit order for the rest at 153 - as thats my final target

GL with your trade & have a good weekend

Anyone know the reason for the drop this morning, things were looking good on Friday with close of 135, is there any news I've missed?

I'm hoping it has just bounced off low of 129.6, luckily had stop at 129 so didn't get hit. Needs a strong bounce though so watching carefully atm

uk.advfn.com/p.php?pid=chartscreenshotsh...C3VM=&symbol=L%5ETCG

This still looks ok imo, despite the unexpected drop today!
It has support in this 129/130p area, its still above the moving ave's,which should provide support.
This looks like its building a up trend channel, so my stop is below this trendline line atm.
This has results/trading update tomorrow, so a bit of gamble, but i have taken some profits, so happy to take the risk now.

Hope that helps,
Regards
Trendfriend.