This is a countertrend trade that I took today around an hour before close .
Some points :
Hammer that has above average volume is a potential bottom , its wick is a good indicator of support ... I used it vs stop
Todays bullish engulphing shows more potential reversal signs
I also see a potential double bottom lower low major trend reversal set up that is also a second entry long on a longer time frame .
It is also a range though. And a downtrend on daily .
Trade managemnt will be as follows:
1)Sell 1/4 at 1R adjust stop to half risk on balance .
2)Sell 1/4 at 2R adjust stop to entry
3)Then try to run the balance but Sell rest on a close below 10/21 emas .
Might sell a tiny bit prior if we get over extrended from ma's too , my just because clause ...
Ps :On the road so using a white background for ideas because it's easier to load I find on my phones , which I'm using to manage TV and orders while I'm away ...
Entry 28.58
Stop vs low of hammer . 24.79
initial PT 32.18
Some points :
Hammer that has above average volume is a potential bottom , its wick is a good indicator of support ... I used it vs stop
Todays bullish engulphing shows more potential reversal signs
I also see a potential double bottom lower low major trend reversal set up that is also a second entry long on a longer time frame .
It is also a range though. And a downtrend on daily .
Trade managemnt will be as follows:
1)Sell 1/4 at 1R adjust stop to half risk on balance .
2)Sell 1/4 at 2R adjust stop to entry
3)Then try to run the balance but Sell rest on a close below 10/21 emas .
Might sell a tiny bit prior if we get over extrended from ma's too , my just because clause ...
Ps :On the road so using a white background for ideas because it's easier to load I find on my phones , which I'm using to manage TV and orders while I'm away ...
Entry 28.58
Stop vs low of hammer . 24.79
initial PT 32.18
Trade active:
Sold 1/4 on Friday , stop adjusted to half risk , second order set to sell another 1/4 at 35.95(2R of original risk)
Comment:
Added a second buy here at 32.5 , hoping to de risk today at 1R , we are in an hourly range but holding above gap low . Stop is low of gap after/if derisk will tighten to lod
Comment:
Did not get to de risk add but Im going to hold into after market and if we drop below LOD I will move out , otherwise Ill bet on the bulls for now and hold overnight ...
Comment:
B2 was significantly reduced in size , was sized for a daytrade so needed to get more defensive just incase we see big gap down or something on Monday , it happens . I sold 3/4 of the position at a 0.28R Loss but am holding the last 1/4 , I have set an order to sell half ( of what's remaining on B2) at 3R on B2 ( 36.99 ) this will put the position in a gain and allow me to try and run the final 1/8th ...
Trade closed manually:
sold the balance of tqqq
艾力克~