Salesforce Trader Follows Plan, Sells 25% as Price Reaches Resistance

According to a trader who goes by GigantesResearch on TradingView, Salesforce (NYSE:CRM) has been a successful trade since May. The trader laid out a bullish case for the stock and went long in their strategy.

The plan was tactical, with the trader expecting to take profits at specific levels defined by a descending channel and a bullish gap. In August, they wrote down their trading plan, which included not fighting resistance when it is met.

As the price reached the upper rail of the channel in September, the trader followed their plan and sold 25% of their position. However, they still had half of their original position remaining long.

The trader emphasized that this approach is 'far from an exact science' and that anything can happen. They see these patterns as probability indicators to help take risk, rather than a guarantee of success.