Trader_Kaji
Long

Trade Journal: Long $LK - Inside Day/Coiled Spring - 2/18/2020

NASDAQ:LK   LUCKIN COFFEE INC SPON ADS EACH REP 8 ORD SHS CL A
Ever since the Muddywater news drop and recovery, LK had been consolidating right under 39 before recently breaking out. LK had been holding above the rising 50MA indicating strength. On 2/13 and 2/14, LK made two inside day candlesticks in a row and formed a coiled spring on the 30m timeframe. This is an indication of future volatility and a possible breakout. My gameplan was to go long on 2/18 when LK broke out and above 39.

Entry - 39.93
Stop loss - 37.33
Target - 50
Comment: 30m timeframe

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