SYF - 5.75% Potential Profit - Ascending Triangle

Synchrony FinancialNYSE

Description

⋅ Sep 16, 2020 5:15 PM

Ascending Triangle broken out after a 6-month bull run.

We are trying to capture the run right out of the gate, hence there is limited support confirmation. However, momentum is there and the RSI / STOCH / MACD are on our side.

- Target Entry $27.51
- Target Stop Loss $27.26
- Target Exit $29.04

About me
- P/L September +33.74% | August: +203.83% | Historical Win Ratio 75.00% | No Trades without Analysis
- Note that I tend to adjust stop losses in order to secure profits early and preserve capital. This means that the target price is going to be achieved as long as there are no strong pullbacks that trigger my new adjusted stop loss

Comment

⋅ Sep 17, 2020 10:43 AM

Apologies, but I have forgotten to indicate that this is a Long position when posting. I am obviously bullish on this one.

Trade closed: stop reached

⋅ Sep 17, 2020 2:08 PM

-1.69% loss.

Stopped at the opening as the market crashed today.

Comments

thetimeswehave

⋅ Sep 16, 2020 5:21 PM

Thank you, I relate a lot with your trading psychology. Your risk management fits my style. Thank you always!

maschera

⋅ Sep 16, 2020 5:25 PM

@thetimeswehave, thank you for stopping by instead and I'm glad that you can relate. I like to keep my risk under control while capturing momentum.