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LDK China Play

Szenshen is a potential triangle on the daily chart as illustrated in my Global Outlook.

Since a triangle is a pattern traders should not miss (because of potential vertical thrust or rally),  I am using LDK or a China solar firm for a swing trade.

The daily chart has a credible rally of 1-2-3-4-5 from early November followed by
a slow and reluctant potential a-b-c down.  Basically, I had been stalking LDK since after the rally had completed.

My limit buy yesterday was triggered at $6.11 with $6,10 target.  LDK did not touch the target but is now a gap up early in the morning.  An a-b-c down should be another chance to add more positions by using the 5min chart.

Basically my initial target on the daily chart is $10.22 short term and a medium term target of $14.59 to $17.29 range for a complete 1-2-3-4-5 rally.

For the weekly chart, my short term target is basically the double top of $14.27 up to $15.27 which a rally on the daily chart can support. 

Medium term, just in case it actually becomes a profitable company (since China practically monopolizes basic materials for solar panels);  the target will be $26.10 to $32.60 range for a complete 1-2-3-4-5 rally on the weekly chart.

It is a very speculative investment since it is still losing money and lots of dept.  But for a trade,  it is a high probability trade for now.  Initial stop loss at the last higher low of $5.06 on the weekly chart.  Will adjust it later if a rally follows the last higher low of $5.85 on the daily chart.

If successful, I should be able to sell 1/2 holdings at or above daily target ranges then forget the other 1/2 hold for at least 3 years or until the upper target range on the weekly chart has been achieved.