LRN, a Nice VCP Breakout that its not from the energy sector
Nice VCP pattern on an industry that is not Oil & Gas. Bought a small pilot position(6.8K,1.3%,500 USD Risk, my full defensive position to nibble in a tough market) to see if I can get traction on the terrible market which shows narrow leadership outside Energy. Looking for the opportunity of a bear market rally from here. Maybe 10-15% from the lows. My view is that macro is deteriorating fast so high odds we make lower lows for a third bear market leg, mean while ill just keep moving where the price and volume action looks enticing in a very defensive way.
Overall exposure after this buy: 7%
Buy point: 38.60
Stop: 35.85
R: 7.12%
Avg Cost: 38.69 (Black solid line) (First buys-->500 USDs Risk, Full Defensive)
The thrust of buying after the buy point crossing was so brutal I even got a price that was not registered on the Trading View Platform at the time. This reinforces the strategy of buying on lots after the alerts and then asses more buying further on. It squatted right away so i could buy the rest of my position when the price returned to the pivot.
Overall exposure after this buy: 7%
Buy point: 38.60
Stop: 35.85
R: 7.12%
Avg Cost: 38.69 (Black solid line) (First buys-->500 USDs Risk, Full Defensive)
The thrust of buying after the buy point crossing was so brutal I even got a price that was not registered on the Trading View Platform at the time. This reinforces the strategy of buying on lots after the alerts and then asses more buying further on. It squatted right away so i could buy the rest of my position when the price returned to the pivot.
Comment:
Bumped position 197 new shares @40.55 on the breakout. Also moved stop to the original buy point of 38.55. Its having an ugly early day reversal.
Trade closed: stop reached:
Stopped out with massive slippage. 37.40
Stop was @38.55, got filled @37.40
Stop was @38.55, got filled @37.40