ZM Trade on Aug 10, 2020 11:47 from tradelikelarry: Tradervue User Stock Trades.

Trade Planning:

• Daily Chart: Uptrend, Consolidation below ATH.
• TTM Squeeze: Daily
• Earnings Date: 8/31
• IV: 66%
• Potential Profit: $220
• Potential Loss: $280

Reason For Entry:

• Playing the Daily chart, Put Credit Spread. ZM is in a pattern of consolidation below its ATH. TTM is in a squeeze and gaining momentum. Price action pulled back to the support area and provided a nice opportunity for a PCS. Betting that price action closes above $247.5 by expiration this Friday.

Reason For Exit:

• ZM flushed out with increased volume and the TTM fired short. I followed my rules and closed the trade.

Recap:

• The pattern was correct (consolidation below ATH and a TTM squeeze on the daily). Entry was correct at the support / stop out area. Price action flushed out with increased volume and TTM fired short so I followed my rules and closed the trade for a loss (less than 1% of portfolio). This is one of those trades that just did not work, I took a shot and the pattern did not follow through. On to the next one.