$ENPH Pullback Within Bull Cycle, Drawdown Normal, Position Intact

PeterDiCarlo
04-06

$Enphase Energy(ENPH)$ is down 9% since we entered.

That's fine.

This is exactly how the average winning trade in this cycle behaves before it rallies.

We called the bull cycle weeks ago. We entered long.

The pullback is on track.

Our system does not try to ping the exact bottom.

It enters on pullbacks inside a confirmed bull cycle.

Average drawdown before the rally is 20%.

We are at 9%.

Position is sized correctly. Conviction has not changed.

Still very long. Not worried in the slightest.

PS: My system enters on pullbacks.

Not bottoms.

That means ~75% of entries go red first.

Short term pain.

Then the move.

We are buying retracements in a bull cycle, not pinpointing the bottom

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