WORK Trade on May 4, 2020 11:36 from tradelikelarry: Tradervue User Stock Trades.

Trade Planning:

• 195m Chart: Uptrend, Consolidation below recent highs.
• TTM Squeeze: 195m
• Earnings Date: 6/11-

Reason For Entry:

• Playing the 195m chart. WORK is in a pattern of consolidation below recent highs. TTM is in a squeeze on the 195m chart and momentum is shifting positive. Order filled for 1 contract at the buy zone (8 and 21ema). Risking .75% of portfolio. Looking for a move to new highs.

Reason For Exit:

• Closed half the trade at the Fib extension 61.5% level. Price retraced a bit and looking to add to the position if the pattern stays valid. Closed second half of position at the next target (Fib. Extension 78.6% level).

Recap:

• The initial entry was correct just below the 8 and 21ema. I added to the position on strength as price was holding above the 8 and 21ema. Scaled out of my position in 2 lots. First exit was at the Fib extension 61.8% level and second exit was at the 78.2% level. Overall was a nice trade and a 60% winner.