SMAR Trade on May 1, 2020 13:10 from tradelikelarry: Tradervue User Stock Trades.

Trade Planning:

• 195m Chart: Uptrend, Consolidation below ATH.
• TTM Squeeze: 195m
• Earnings Date: 6/16-

Reason For Entry:

• Playing the 195m chart. SMAR is in a pattern of consolidation below its ATH. Chart is in an ascending triangle and there is a squeeze on the TTM (195m chart). Order filled for 2 contracts at the buy zone between 8ema and 21ema. Risking a little over 1% of portfolio. Watching for a move to its ATH. Added to position as price opened with a gap up and retraced to close the gap below at my entry. The pattern looks good to go for new ATHs.

Reason For Exit:

• I took 2 exits at 1/3 size positions at the ATH area. Holding the last 1/3 to see if price can continue its run (TTM is still in a squeeze). Closed the last 1/3 size position at its new lifetime ATH.

Recap:

• The setup was valid as chart showed an ascending triangle along with a consolidation below its ATH. Entries were all correct in the buy zone (between the 8 and 21ema) and added one more time as price gapped up, retraced to fill the gap and bought another contract at the gap close area. My exits were spot on scaling out in 1/3 size positions (all moving toward its new lifetime ATH). The key was staying patient and staying in the trade as the pattern continued to stay valid.