SNAP has closed above the daily downward trend. A long here on the daily timeframe could give good R:R if risked off all time lows with a target at the weekly volume profile, which coincides with filling in the recent gap.
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Entry @ $10.99
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Current price 13.29 very tempting to sell here at significant resistance but will hold for our target.
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Touchdown on take profit. Did not execute take profit (sadly!) but thats ok. Thing is I think chances are low we can get above 15.00 so I should have stuck with that take profit. Simply did not have the limit order in. Didn't see alarm in time.
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today's lesson: set your limit orders
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H&S on 1 hour timeframe shows us a possible stop sell to get out of this good-trade-gone-bad.
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H&S on the 1 hour timeframe shows a hourly close and daily close below the trendline (no lower low/orange line):
Good exit could have been during last 5 minutes before daily close. Probability leans towards tomorrow opening lower low.
Trade closed: stop reached:
Wow finally got out of this at 11.12
What a ride. Set your limit orders, folks!! I had money tied up in this for 10 months!
What a ride. Set your limit orders, folks!! I had money tied up in this for 10 months!