There is lot of blood in the streets of Tripoli. But the Quantitative Analysis Screen of the ZYX Change Method shows Eni stock price has not bled enough. Eni is on our radar screen to buy. We will wait patiently for all six screens of the ZYX Change Method to be satisfied before entering the position. The secret of our success has been the rigorous discipline imposed by the ZYX Change Method. This discipline has led to 163 winning trades out of 173 closed trades published on this blog since 2007.
Our tentative buy zone to start scaling in a long position is $35 to $42. Ideally, we will wait for a break of the $40 level, let all the stops that are likely to be just under $40 to be taken out in a down spike and then buy at the momentum exhaustion of the down spike. Of course, this is all subject to change.
- Exact price and quantity as a percentage of full position size for each scale in buy
- When to get aggressive in buying
- Initial stop loss zones
- Changing stop losses to protect profits when the position becomes profitable
- Exact price and quantity to exit the position for each scale out
