Trade Planning:
- Daily Chart: Uptrend, Consolidation below recent highs.
- TTM Squeeze: 2h and 78m
- Earnings Date: 4/2*
Reason For Entry:
- Playing the 2h/78m chart. CHWY is in a pattern of consolidation below recent highs. It is trending upward in this consolidation. The TTM is in a squeeze and gaining momentum. Price retraced into the buy zone (at the 21ema) and entered the trade. Risking 1% of portfolio and position size is about 1% of portfolio.
Reason For Exit:
- CHWY made new highs and locked in the win for about a 78% win.
Recap:
- Nice entry and nearly added to my position at the lower BB. Price made new highs and closed my position for a 78% win.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2020-03-25 15:44:37 | 17 APR 20 32 CALL | buy | $3.000 | long |
2020-03-27 15:59:33 | 17 APR 20 32 CALL | sell | $5.400 | 0 |
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