Entry 1 (preferred) - we see daily pin of high so there is a good chance of B point line to be re-tested. Wait until it is tested and see if it provides support to the stock price. If it does - price bounces of it on good and produces candle e.g. pin. Then we can enter long position targeting Bat's D point.
Entry 2 - if price action next week will be strong enough to break daily pin without B point re-test we can enter long position there.
Trade Exit: Automatically exit trade at 0.886 fib - Bat's D point $40.51. Even at late entry at $37.65 we can still have 7% gain. With preferred entry we can gain about 14%.
Proper money management required.
We should watch it closely now looking for strength and reversal candlestick pattern. Not ready to enter yet.
Entered initial long position with tight SL below that 15 min pin here. Will add when Bat's B point breaks.
1) early identification of the pattern
2) trade execution
3) profit management
We now trying to trade BAMM move on weekly. Weekly TF requires patience and takes time, so as opportunities show up on lower TFs we can use them for better entry.
The idea is being invalidated as price drops further below B point. It did not allowed me to enter with big position at B point. Will look for other opportunity. I will keep the idea open just in case price suddenly reverses since it is on weekly we may still have a chance for it to work out.
There is risky entry shown on chart using today's candle and safer entry using Bat's B point.
This trade takes time and stresses the importance to NOT focus all your money in one trade and also not to put all money dedicated to one trade at once.