PETS Trade on Apr 3, 2020 11:19 from tradelikelarry: Tradervue User Stock Trades.

Trade Planning:
- 1h Chart: Uptrend, Consolidation below recent highs.
- TTM Squeeze: 1h
- Earnings Date: 5/4-

Reason For Entry:
- Playing the 1h chart. PETS is in a pattern of consolidation below recent highs. Price retraced into my buy zone (21ema) and entered for 1.5% of portfolio position size (1 contract). TTM is in a squeeze on the 1h chart and actually has several other squeezes (2h, 4h & Daily). PETS also has high short float (48%), looking for price to pop to new highs.
Reason For Exit:
- PETS opened with a gap up, closed the trade at a resistance level (127.2% fib level) for a 25% win.

Recap:
- Nice entry at the buy zone (21ema). I let the trade develop and closed the trade at the resistance level (fib 127.2% level). Nice 25% win. Note: Although the price dropped after my entry, the trend was still valid and the TTM remained in a squeeze. I stayed patient, and let the trade develop for the win. If price would have continued to drop, and the TTM fired short, I would have followed my rules and simply closed the trade for the loss and moved on to the next one.