WSM Trade on Jul 30, 2020 16:28 from tradelikelarry: Tradervue User Stock Trades.

Trade Planning:

• Daily Chart: Uptrend, Consolidation below ATH.
• TTM Squeeze: Daily
• Earnings Date: 8/26

Reason For Entry:

• Playing the Daily chart. Price action is testing a break out level following consolidation after a 3 and 8 EMA cross over the 20 MA. Looking for a move to ATH. Risking 1% of portfolio on this trade. 8/4 - Added back in a full position on this trade after taking half profit yesterday. I like the price action today (tested the 20 MA and bounced right off and back into the buy zone).

Reason For Exit:

• 8/3 - closed half position at Target 1. 8/6 closed half position at Target 1 again after adding back to a full position on the trade in the buy zone. 8/7 Closed final half of position at the new ATH level. Overall profit of +$229

Recap:

• This was an interesting trade in terms of multiple entries and exits. The initial entry was followed by a 3 and 8 EMA cross over the 20 MA. Exit 1 (half position) was at the Target 1 level. Price then retraced to the 20 MA and worked its way back in the buy zone and I added to my position (full position). Price action then worked its way back to the Target 1 level and I closed another (half position). Price action continued to a new ATH and closed final half of my position. Overall I clearly followed my rules and made a total profit of +$229.