On July 11, we bought Workday, Inc. ($WDAY) at $66.16. Now, less than a month later, the stock is trading above the $74 level (an unrealized share price gain of approx. 12% as of August 9).
In this educational trading strategy video, we clearly show you how we used short-term trend lines to help us locate the most ideal, low-risk entry point for that actual momentum swing trade buy entry into $WDAY. Learn how you can apply the same techniques to your trading analysis as well.
Press the play button to view the video below. For best clarity, view in full-screen HD mode by clicking the icon on the bottom right of the video player window:
Although we used an actual swing trade in $WDAY as our example in the video, our simple technique for using short-term trend lines to identify low-risk buy points can be used for any stock or ETF in a valid uptrend (click here to learn how we identify the strength of a trend).
Try it and let us know how it goes for you. It’s definitely a winning strategy for us.
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The post How To Use Short-Term Trendlines To Locate Low-Risk Buy Entry Points appeared first on the blog of Morpheus Trading Group.