TLRY Trade on Apr 30, 2020 12:00 from tradelikelarry: Tradervue User Stock Trades.

Trade Planning:

• 1h Chart: Uptrend, Consolidation below recent highs.
• TTM Squeeze: 1h
• Earnings Date: 6/1-

Reason For Entry:

• Playing 1h chart. TLRY is in a pattern of consolidation below recent highs. TTM squeeze on 1h chart. Order filled at the buy zone 8ema area. Added for a full position at the final buy zone (at lower BB). Will hold position until pattern is no longer valid or at profit area.

Reason For Exit:

• Pattern failed as the TTM fired short. Followed my rules and closed the position for a loss (1.5% of portfolio)

Recap:

• The setup was valid (Stock rallied, followed by a pullback to support and consolidation below its highs.) Entry was correct at the 8ema and 21ema area. The pattern simply failed and the TTM fired short. A little frustrating but this is part of the game and position sizing is what will keep me in it. Had the pattern worked and TTM fired long, I would have profited a lot more than the loss. It was a 2:1 risk to reward ratio. On to the next one.