why I sold GOGO today; targets, wave count, technicals.

I sold GOGO today because the 2.000x extension of i is at $17.30. Price hit $17.20 today which is also almost exactly where the 50d SMA runs. In addition, the daily pivot is at $17.08 and the upper BB at $17.55, while the daily RSI(5) is in OB conditions now. Hence, plenty of reasons why, IMHO, upside is  limited. Nonetheless, it counts beautifully as 5-waves up. So, at least for me, time to take a modest profit and see what happens next.

GOGO update 08202014

If you like what you see, and how I decide my trades, please join I.I. and become an I.I.  member. You’ll get intra-day updates on my trades, 1-on-1 tutoring if needed and much, much more. Soon all this will go behind password protected posts so if want to get more of this: please sign up now!


Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s