MGY.NYS_Swim Trading VZ Breakout_Long

NYSE:MGY   Magnolia Oil & Gas Corporation
ENTRY: 21.81
SL: 19.27
TP1: 23.83
TP2: 24.53

- ADX>20.
- Maintaining at pivot point "P", HVN level and 38%/50% fib level.
- Wash and rinse pattern on 8 and 9 Feb 2022.
- Strength meter is green hence some strength.
- Watch for earnings on 16 Feb 2022. Oil prices are at a high hence earnings should be good.
- Entry based on breakout from VZ today but prefer it closed above.
Trade closed: stop reached:
- Hit adjusted breakeven SL: 22.67

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