MDT trade should yield greater than 3:1 R/R. the PnF daily shows a strong pattern with $73 target, once it BO. :)  i cant seem to load the chart? anyway, price is above the upper TL of the 4-pt daily channel. support is at 54.30(top of channel).  target from the top of the channel is 4 pts, but there is a high on thursday at 55.12.  the 60-min is near the lower TL of a triangle with +/-54.36 support. on the 5-minute price is in  a descending triangle with support at 54.36; i note minor support on 5-minute at 54.17. ill look to take MDT long in the near 54.36, so the risk is .24 to 54.12 and reward is .84 to 55.12; and appx 4 points on a longer hold; but i might dole out another 25% at the $59-$60 R level($59.87). ill dole at 1/2 at the 55.12 target; move stop to BE when price breaks above the 54.70 horizontal support on 5-minute chart, then start trailing a stop under obvious Support. once im above 55.12, ill give it some more room, looking for the +/-$60 R and then 4 pt reward – measured move from 4-point daily channel. R/R is over 3:1.  note the 52 Support level on the PnF for longer-term trade.

note, medical equipment is strong sector

 ill post the charts when i figure out why they dont show-up once i upload them.

Monday update. gap & crap on MDT.  had some interruptions so i missed the bottom near 53.90 support and the first move out of consolidation at 54.05.  went long at 54.24 – stop GTC at 53.88.  .36 risk, .88 initial reward to first target of 55.12.  R/R would have been much better off of teh bottom, and might turn out to be a pivot before next impulse. 2.44 R/R at entry. to first target.  below is the chart – entry is highlighted on the bottom 5-min chart.

 got interrupted or i would have taken .06 loss at the close to get out ahead of FED

tuesday update – out on 1/2 of MDT at 54.98 – just under round number R. will move.. +.74 on first 1/2 of trade. hasnt PB’ed all morning and might power thru prior high at 55.12? placing stop at BE as there arent alot of obvious suppotrs zones.

 tuesday afternoon update – sold 25% at 55.75. have to travel on wed-thursday. still ahve 25% with stop loss at BE.

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