Finally found a long setup worth swing-trading

smoking CIG swing trade longMy only trade of the day so far, and probably will be my last one of the day. I haven’t see a lot of glowing long setups out there today and I’m not a person that likes to force himself on what the market isn’t giving me, so I’ll try my best to be content with just one long trade.

The long setup comes in Energetica de Minas Gerais (CIG) (assuming that to be a foreign company). I got in at $12.26 and it didn’t take long for it to drop down to $12.12 where it is currently trading at. I’m fine with that though, and won’t bail out of this trade unless it drops to $11.87. Otherwise these intraday gyrations don’t bother me none. 

By the way – a quick reminder that Monday represents a new month of trading, and is usually more bullish than not, so don’t be surprised if we see a surge higher on Monday looking for some new profit opportunities in the final month of trading. 

Here’s the swing trade setup long in CIG

CIG swing trade long

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