GILD Trade on Apr 1, 2020 10:39 from tradelikelarry: Tradervue User Stock Trades.

Trade Planning:
- 1h Chart: support at 200ma, Consolidation below recent highs.
- TTM Squeeze: n/a
- Earnings Date: 5/5-

Reason For Entry:
- Playing the 1h chart. This is 13ma crossing the 30ma play. The 13/30mas recently crossed and priced retraced to the buy zone (200ma and lower BB which is historically support area). In 1 contract which is about 1.5% of portfolio. Will add to position if price retraces to the previous support level at $70.5. Looking to exit trade when price moves to the $79 area (previous resistance).

Reason For Exit:
- Set an exit limit order for 35% win. Order triggered at 2:02PM. Reason for a 35% goal was looking for a quick win as the market has been very choppy. Price was approaching a resistance area so I set an exit order around that area.

Recap:
- Nice entry as it initially took 3 days for price to enter my buy zone, good patience practice. Exit was right on at the resistance level. Had I had more than 1 contract, I would have scaled out of the position half at resistance and held the rest another day due to momo gaining on the TTM. Nice trade overall.