GMED Trade on Jun 3, 2020 11:37 from tradelikelarry: Tradervue User Stock Trades.

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tradelikelarry

 

Trade Planning:

  • 1h Chart: Uptrend, Consolidation below recent highs.
  • TTM Squeeze: 1h
  • Earnings Date: 8/6-

Reason For Entry:

  • Playing the 1h chart. GMED is in a pattern of consolidation below recent highs. The TTM is in a squeeze and gaining momentum. Price consolidated at the buy zone (21ema area) and executed 1 contract (Risking less than 1% of portfolio). Added to trade at the support / stop level. Risking 1.5% of portfolio now. Watching for GMED to continue to new highs.

Reason For Exit:

  • Price faded and the TTM fired short. Followed my rules and closed the trade for a small loss (about .6% of portfolio)

Recap:

  • The pattern was correct as price was consolidating below recent highs. TTM was in a squeeze and gaining momentum. Scaled in to the trade at the buy zone (21ema level) and at the lower Bollinger Band / support level. Risked about 1.5% of portfolio. Price faded and TTM fired short. I followed my rules and closed the trade for a loss. A loss of about .6% of my portfolio. Small loss on to the next one.

Execution detail:

Date/time Symbol Side Price Position
2020-06-03 11:37:34 19 JUN 20 57.5 CALL buy $1.800 long
2020-06-04 11:26:53 19 JUN 20 57.5 CALL buy $1.500 long
2020-06-04 12:23:30 19 JUN 20 57.5 CALL sell $0.9000 0


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