PENN Trade on Apr 17, 2020 10:35 from tradelikelarry: Tradervue User Stock Trades.

Trade Planning:

• Daily Chart: Downtrend, Consolidation below recent lows.
• TTM Squeeze: none
• Earnings Date: 5/7-

Reason For Entry:

• Playing daily chart. PENN is in a pattern of consolidation above recent lows. TTM momentum shifting lower. Price moved to buy zone (between 21ema and top BB) and order filled for 1 contract (1% of portfolio at risk). 4/20 - added another contract at support area. Now have a full position and risking 2% of portfolio.

Reason For Exit:

• PENN broke through the stop out zone and was looking strong. Closed the full position for a 53% loss

Recap:

• The entries were correct between the 21ema and top Bollinger Band. PENN just couldn't roll over to continue its downtrend, on top of that, the market was roaring today breaking resistance. Closed the trade for a 53% loss or 1% of portfolio.