asenski

LONG CMG R:R = 2.15

Long
NYSE:CMG   CHIPOTLE MEXICAN GRILL
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0
Market looks like it's super bearish , yet we have a good setup here.

Watch the price action and GTFO if it doesn't seem like it's working out, but this seems like a reasonable entry.
Comment: Looking great! Taking some profits here is not a terrible idea...

Trade closed: target reached: Almost a perfect trade! Doesn't happen often, so it's very nice to see!

Follow me for some interesting Risk:Reward ideas. I have a purely technical analysis approach. I mainly watch and trade US stocks that have weekly options. This is not an investment advice, do your own due diligence.

Comments

It held the support at 100ema and bounced off at daily charts on Friday. Hoping for a bullish momentum along side with the market coming week. May pick a call for a quick swing.
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asenski vidhursachin
@vidhursachin, I rarely use moving averages as they are a lagging indicator. But if that's what gives you a confirmation, then so be it.

Will be interesting to see what it does today! Fridays often have BS moves due to option expiration.
+1 Reply
asenski vidhursachin
@vidhursachin, Looking good... ;)
+1 Reply
@asenski, Made some good scalp on CMG. Will get back in next week if charts looks good.
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