Updated Entry Strategy for Potential Long Swing Trade for MU
As with many Swng Trading setups we have to adjust the entry strategy according to new price action. In the case of this potential Long Swing Trading opportunity on MU the stock price made a slightly new wave 4 low. So we nee to firtly adjust the Stop Loss for the order to $46.93. The price ahs move away from this new support level very well and so we are looking for a slighty more aggressive entry than first mentioned n the signals video at the foot of this post.
New Long Entry Price is $54,23 which is still outsdie or special 6/4 Moving Average High used on ur indicator suite for entry. The entry price is aso above a recent attempt to move higher mentioned in the origianl video. An updated chart is below showing the Wave 4 has found support in our Amber Zone, which carries an 80% probabiity that the stock price will go on and make a new wave 5 high into our automated target zne at $68, in blue on the chart below. (click n the chart image to open full size in a new wndow)