When a trade hits $67.80, decide between a fixed take-profit order or trailing stop. Trailing stops risk getting stopped out before the price rises further. The speaker prefers locking in profits at predetermined levels rather than risking sudden reversals. With aggressive sellers showing at the top, taking partial profit now makes sense.
We're approaching the target levels at $67.80, at which point there's always two options. You either put a take profit there and exit, or you trail your stop. And it can be a little tricky because if you trail your stop, you could get stopped out because this is a sell area and then price could continue. So it's not necessarily the bad idea to be super aggressive with the trailing. At the same time, you don't want to lose the profit. And as we're approaching this area, I might just consider exiting and risking that price might keep going higher and miss this move. Like the idea of missing this move, it's better for me than missing all all of this profit and maybe closing the session at breakeven because of a stupid spike. So I'd rather take profits at the levels I've pre-decided. Oh, we have aggressive, really aggressive sellers on the bottom. I might exit this position as we speak because we are in a very strong sell area. So I can at least take a partial profit as we see sellers engaging and big bubbles joining the party. Aggressive sellers on the top wick with absorbed buyers. That's a typical, let's say, sign of reversal. So I might want to get out of the position.
