ATVI Trade on May 8, 2020 16:09 from tradelikelarry: Tradervue User Stock Trades.

Trade Planning:

• 1h Chart: Uptrend, Consolidation below recent highs.
• TTM Squeeze: 1h
• Earnings Date: 8/4-

Reason For Entry:

• Playing the 1h chart. ATVI is in a pattern of consolidation below recent highs. It is in an uptrend and holding the 8ema. TTM is in a squeeze on the 1h chart. Order filled for 1 contract at the 8ema area. Risking .5% of portfolio. Watching for a move to new highs.

Reason For Exit:

• Scaled out of the position in 2 lots. 1st at the new high level and 2nd at the 127.2% fib extension level.

Recap:

• The pattern was correct as price made a strong move higher, consolidated below its highs, and continued to make new highs. I opened my position in the buy zone (8ema) as the TTM started a squeeze (red dot on the TTM indicator). TTM fired long and price continued to new highs as I scaled out of the position in 2 lots. 1st exit was at the new high level and 2nd exit at the 127.2% fib extension level.