I like how CRM is forming this bullish pennant formation and is holding up well under the market's selling pressure. I also like how it looks to want to hold the 21 day MA. I'll be watching this for a potential entry on 1. a break above the down trend line, 2. a good market and 3. increased buying volume. If I make this trade it will be a smaller than normal position and will have a tight stop. This market is shaky right now so extra caution is warranted. Ideas, not trading / investing advice.
Trade active
9/22 - Just opened a starter position here in CRM. It's on my buy range and is getting a lot of buying volume on the 5 min chart her at 12:30 PST Fill Price $247.90. As mentioned above, I'll have a tight stop on this just below today's low. I'll be looking to add to the position if and when the market gives me that tailwind.
Trade closed: stop reached
Stopped out. Will look for new entry in stronger market.
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