Whats the Setup:
Where are EMA's: Under
EMA's-Direction & details: Rising
Time Frame Alignment: Yes
Volume: Above Average
Market action:Down
Stop: 50.60
Target: 53.80
R/R: 9:1
Reasons for exits: 1st exit was taking profit after pop. Second exit was selling towards recent consolidation above the flag.
Notes:
1. Where is resistance and support. (prior support and resistance.. current support and resistance both intra-day and daily and moving averages) Prior support was $50. There was a multiple timeframe breakout.
2. How much am I willing to risk on this trad? 40 cents.
3. How much can I make on this trade. (If it's not a min of 2 to 1 move on) 9:1
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2015-02-25 11:10:02 | SM | buy | $50.990 | long |
2015-02-25 11:14:16 | SM | sell | $51.600 | long |
2015-02-25 11:17:09 | SM | sell | $52.050 | long |
2015-02-25 11:19:23 | SM | sell | $52.250 | 0 |
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