SGMS Trade on Jul 28, 2020 15:14 from tradelikelarry: Tradervue User Stock Trades.

Trade Planning:

• Daily Chart: Uptrend, Consolidation below recent highs.
• TTM Squeeze: Daily
• Earnings Date: 10/22
• **IV: **
• **Potential Profit: **
• **Potential Loss: **

Reason For Entry:

• Playing the Daily chart. Price action is holding the buy zone following a 3 and 8 EMA cross over the 20 MA two days ago. TTM is in a squeeze and gaining momentum and the short float on the stock is 16%. Testing a resistance level and watching for continuation.

Reason For Exit:

• 7/29 - exited half position at the Target 1 area. 8/5 - exit second half at the Target 2 area.

Recap:

• Standard setup (3 and 8 EMA cross over the 20 MA with Volume). I entered the trade as price action consolidated in the buy zone and risked about 1% of portfolio on the trade. My exits were in 2 transactions at Target 1 and Target 2 (white lines on chart). Overall was a nice trade as price action continued higher following the 3 and 8 EMA cross over the 20 MA.