KHC Trade on Jul 13, 2020 14:01 from tradelikelarry: Tradervue User Stock Trades.

Trade Planning:

• Daily Chart: Uptrend, Consolidation below recent highs.
• TTM Squeeze: N/A
• Earnings Date: 7/30
• IV: N/A
• Potential Profit: N/A
• Potential Loss: N/A

Reason For Entry:

• Playing the Daily chart. KHC is making a nice continuation today following a 3 and 8 EMA cross over the 20 SMA. Price action is currently breaking through a resistance level and watching to continue to new highs. Stop out level is a close below $31.12 which is the 50 SMA.

Reason For Exit:

• Price action made a strong move to my first target and I closed the trade for a nice +$120 win.

Recap:

• The setup was correct as I entered the trade following a 3 and 8 ema cross over the 20 sma. Price action consolidated in my buy zone and I executed a trade risking 1% of my portfolio at the stop out level (red line). 3 days later price made a strong move to my target level and I closed the trade for a win. Note: going forward I will start scaling out of my positions in 2 transactions and setting up 2 target levels. In this case, price action continued higher and I could have profited more if I had exited half the position at my first target level. Looking forward to the next trade!