Shared by:
ToqueX
Grade=C-
The setup: pullback
The result: It worked out and I hit my target of 81.75.
Entry: bought into a spike above price support, aided by reading the tape
Exit: I set a modest target, knowing this stock was moving a bit choppy in the range here.
The lesson: This is not my go-to setup, but I wanted to practice tape-reading. The range of the previous 5m candles led me to believe that I could get a piece of this choppy back and forth action which was similar to that of an opening range for many stocks. It seemed quite extended to the downside at the time of my entry.
Execution detail:
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