Green Mountain Coffee (GMCR) Ascending Triangle

GreenMountainJavaStock: Green Mountain Coffee Roasters (GMCR)

Long or Short: Long

Entry: $81.28

Stop-Loss: $78.28

Chart: Green Mountain Coffee Roasters (GMCR) Daily Swing Trade Setup

Green Mountain Coffee GMCR swing trade long

Reason for Trade: I would have taken this trade much earlier today had the Fed not been releasing its FOMC Statement – it basically handcuffed me from taking a position in this intriguing setup.

I’m a huge fan of the ascending triangle on strong up-trends and that’s what we’ve got here with GMCR. I want to keep the risk under four percent, and in the case that I’ve outlined here, 3.6%. 

With Uncle Benny talking, I’ve got a good chance that GMCR will give me that second chance to get in it.