Setup - short position for several days due to hype price rise in a short period of time
Daily chart - it tested $6.15 area for the second time on the daily chart, and may be a long position tomorrow.
Intraday (5-min) - I thought I saw the bearish engulfing sign (well not really a perfect one) at the 10:50 candle with the break of EMAs.
Entries: $6.49
Stop loss: $ $6.51 (right above the EMA sandwich on 5 min, risking 2c only, playing it with a very low risk)
Target: $6.25 at LOD(12:1 r/r)
Exit: sold around $6.40 because it started basing out around $6.35
Execution detail:
Thanks, I just played this one by the book with the stop above the EMAs, but since the range between the EMAs was so narrow I did not have to risk much.
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Wow, that is a TIGHT stop. Timing is everything and it looks like you nailed it as the price only had to rise a cent for the spread to take you out. Well played.