I like GRWG above the box or on a pull back to the bottom of the box. It had a fairly wide 7 pt range last week but a strong close on Friday. A break of 56 could yield a move to 58/62/66. Stops would depend on entry. A break below the box would be negative and void the trade idea.
Additional Info:
I am an intraday scalper and short term swing trader of stocks & Futures using options and equity.
I focus on high volume momentum stocks in strong uptrends.
My time frame is between 5minutes to 5 days on most trades.
I scale into positions and scale out of positions as my targets are hit.
I always trail my stops after T1 is hit to reduce risk and lock in gains.
If my post is on a Weekly/Daily/240M chart the idea is a swing trade.
If my post is on a 60M chart or lower the idea is a day trade.
Day trades can turn into swing trades if the stock is strong.
All trades should be supported by market direction.
Treat my posts as trade ideas and not signals.
Traders must trade using their own back tested trade plan and rules.
Traders must plan risk first and profits second.
Additional Additional Info:
If you use options to trade high IV stocks it is crucial to wait for some consolidation or a pull back.
If you buy an option when price is stretched you will find that even when the instrument trades in your
direction you will lose money because you will have paid too much premium.
Simple rule = BUY options when candles are SMALL and SELL options when candles are BIG.
Additional Info:
I am an intraday scalper and short term swing trader of stocks & Futures using options and equity.
I focus on high volume momentum stocks in strong uptrends.
My time frame is between 5minutes to 5 days on most trades.
I scale into positions and scale out of positions as my targets are hit.
I always trail my stops after T1 is hit to reduce risk and lock in gains.
If my post is on a Weekly/Daily/240M chart the idea is a swing trade.
If my post is on a 60M chart or lower the idea is a day trade.
Day trades can turn into swing trades if the stock is strong.
All trades should be supported by market direction.
Treat my posts as trade ideas and not signals.
Traders must trade using their own back tested trade plan and rules.
Traders must plan risk first and profits second.
Additional Additional Info:
If you use options to trade high IV stocks it is crucial to wait for some consolidation or a pull back.
If you buy an option when price is stretched you will find that even when the instrument trades in your
direction you will lose money because you will have paid too much premium.
Simple rule = BUY options when candles are SMALL and SELL options when candles are BIG.
Comment:
Was in it for the quick pop to 58. Now stopped out. Earnings tomorrow and price action too choppy.