AAL Trade on May 12, 2020 10:50 from tradelikelarry: Tradervue User Stock Trades.

Trade Planning:

• 1h Chart: Uptrend, Consolidation below recent highs.
• TTM Squeeze: none
• Earnings Date: 6/30-

Reason For Entry:

• Playing 1h chart. AAL is in a 13/30 setup. 13ema is fixing to cross the 30ema which is showing strength historically. AAL also has 20% short float which will add to the probability of it popping to the 200sma. Scaled in to this trade and risking 2% of portfolio. Watching for AAL to continue its uptrend and confirm the 13/30 cross.

Reason For Exit:

• 5/13 - Closed half the position as AAL looked very weak and the market was pulling back. Reducing risk and Price closed on the day holding support at $9 level. Price gapped down and fell below key support level. Out for a small loss.

Recap:

• This trade was more of a gamble than anything. This is not my strategy pattern setup. Stop out level was set way below my entry and as I analyze the chart, I had a 1:1 risk to reward ratio. Not good. It was a small play and a small loss but could have been avoided. Learn from this.