I like LI on the here. Measurements on the chart for run. Waiting for the break of the upper trendline of the handle to get in.
Like and follow if you like the play!!
Leave a comment with any suggestions!!
I usually like to wait for confirmation moves before entering these swings but I saw some opportunity with the fear today.
I like $47 as the final target but I will begin to scale out at $37. My entry at $33 today was a starter position (1/3 of what I intended to invest here). My stop is at $31. I will scale in the other 2/3 between my entry and halfway between my entry and stop, or $32. I'll flip to smaller timeframes and look for confirmation candles and patterns (hammers, double bottoms, etc). If it dips below 32, I pause and wait because I'd rather be stopped out with a starter position than a full position.
When $37 hits, I will scale out by thirds, even if it's just my starter position. The final third will be a trailing stop loss. Just my risk mgt rules so you know where I'm at.