PlanTradePlanMM
Short

DIS plan to short, If Gap down breaks hourly trend line

NYSE:DIS   WALT DISNEY COMPANY (THE)
If Gap down breaks trend line ,
Short at 97.5 or higher
Stop 103
target 81
Risk/reward=5.5/16.5=1:3
If Gap down below 97.5, wait for pullback.
if gap and run, do not chase, let it go.

This is a trading school homework. I make no promises or guarantees of earning.
I need next 6 months to practice my trading plan, and learn from my teachers continually.
If you like it, thank you for your support. Please use SIM account to try it, until my trading plans get high winning rate.

In real trade, I use options. Using Option allows me to set my stop behind next fresh demand/supply zone, to avoid being stopped at the same price as other stock traders.

Sum of my ideas: 1 winner, 0 loser, 1 active, 1 cancelled, 6 pending for condition, 1 analysis only.
Mar 16
Order cancelled: DIS Gap down to 91. About 50% of the planned range. It might be a Runaway Gap.
This shows 40-50% of a trend;
Next range will be the other 50-60%.

Who wants to catch the next range, needs to use smaller time frame, 5 or 15 minute, to define smaller waves.

Comments

no would u all like to see 80 retest?? we are up. u know stocks r over sold. this could be a short bounce. today. right ...?
Reply
@RobFlorio, I have no idea yet. Today, I still see SPY 285 as a big resistance. 220 is the support.
Everyday could be a big up/down.
I would stop short term trading next week. Once I can verify the big trend, I will join again.
Reply
rallying to $95, this trade still viable?
Reply
@jalvarez782, Yes. it is still in downtrend. but need to draw demand/supply and trend line in smaller time frame, such as 5 min chart , the next 5 min supply is 100.99-102.83. Also need to verify the 5 min up trend line break. Once see trend line break, it is another short setting, find the nearest supply zone in 1 min chart, short there, and stop above it.
For new traders, better do not use 15 min chart and below 15 min. It is too easy to be stopped.
Reply
PlanTradePlanMM PlanTradePlanMM
@PlanTradePlanMM, And need to use confirmation entry. After the supply zone could be confirmed, stop short 3 cents below the zone. If the zone is broken through first, cancel this plan.
Reply
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