EMR Trade on Aug 6, 2020 16:22 from tradelikelarry: Tradervue User Stock Trades.

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tradelikelarry

 

Trade Planning:

  • Daily Chart: Uptrend, Consolidation below recent highs.
  • TTM Squeeze: N/A
  • Earnings Date: 11/4

Reason For Entry:

  • Following a 3 and 8 EMA over the 20 MA, price action bounced off the 200 MA and worked it’s way into the buy zone. Risking less than normal on this position as the market is very extended. Looking for continuation as price action is over the resistance level.

Reason For Exit:

  • 8/10 - out half position at Target 1. 8/11 price action gapped up and closed the final half of the position well above the Target 2 level. Overall was a +$232 win.

Recap:

  • The pattern was correct as price action made a 3 and 8 EMA cross over the 20 and 200 MA. The 200 MA was a previous strong resistance level, I entered the trade as price action confirmed the 200 MA new support level. Two days later price action worked its way to the Target 1 level (closed half of the trade). Next day price action gapped up and I closed the second half of the position for a total win of +$232. Overall was a nice swing-trade. image

Execution detail:

Date/time Symbol Side Price Position
2020-08-06 16:22:40 EMR buy $65.170 long
2020-08-10 11:23:28 EMR sell $67.160 long
2020-08-11 10:31:32 EMR sell $70.020 0


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