We took URS at 19/12/2013 as swing trade. Here is URS explanation:
URS - long trade
On the daily chart we can see run up from August start until 19th (blue line) and that is move up. After that URS started with consolidation and triangle (flag) pattern and that is rest. Right now URS trying to bounce from 20sma and I hope for another move up. Weekly and monthly time frame telling us that URS have room until 52.50-53 area and that is what I will look for. From weekly chart we can see that equal move is around $55 area. But we can forget to see monthly resistance and that is reason for target.
Target area: $52.50-53 - 55 area
Type: Swing trade
From explanation we can see that I was not expect that strong bounce, but because of that it is hard to say before entry what target we will see. That’s depends on pace after setup and volume. On the URS daily chart we can see strong bounce after setup and that was reason why I decide to look more then first $52.50 area. I was decide to close it yesterday before exactly$55 price because I think that is better to take really nice profit then risk with another day. My exit was at $54.60 and as result I got 6.85% gain and with more important 5.38 rewards. That mean URS covered more than five negative trades. Until our target trade will be good to cut several negative trades that will be good way to be after all successful trader.
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