SIG trading in bullish channel with a short-term bull-flag in place

sig swing trade long setupStock: Signet Jewelers Limited (SIG)

Long or Short: Long

Entry Range: $54.00-54.50

Stop-Loss: 53.25

Chart: Signet Jewelers Limited (SIG) Daily

Signet Jewelers SIG long swing trade setup

Reason for Trade: I love it when there are multiple bullish patterns on the chart that align themselves with each other. First you have a long-term bullish channel that is well established. Price is near that lower channel as well, which means that should this stock breakout, there is plenty of room to run before hitting any substantial resistance.

Secondly you have a bullish flag that has formed, or depending on how you draw it – a continuation triangle.

Finally, by getting in at $54.01, I’m able to trade with very low risk on this particular trade with at stop-loss at $53.25.

You Might Like

  • Short-term bounce

    The Anatomy of a Short-Term Bounce

  • January Barometer: As January goes, so goes the year.

    January Barometer: As January Goes

  • Losing Trade to Start the New Year

Leave A Comment