I hope you can see just how valuable contingent buy orders are for entering into a new position. Last week an alert went out to buy the stock only after it broke out over the resistance line, but that never happened. Instead, the stock pulled back from resistance and is now sitting on support (50-day MA). The hammer candle is a good enough buy signal for us to buy BAC and we have a clear place to set the stop, which is right below the low from the hammer pattern.
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