Long
Conversion Labs: Potential 58.7% Profit
Updated
Memorializing my thought process on the trade:
- Entered a long position on first pullback candle on Feb. 2 (Entry price: $23.46)
- Profit target: $37.24 (58.7%); Set using Measured Move Objective of 1/2 of prior trend leg's percentage increase
- Stop loss calculated as 1.5x CVLB's ATR at time of purchase (2.71)
Happy trading!
- Entered a long position on first pullback candle on Feb. 2 (Entry price: $23.46)
- Profit target: $37.24 (58.7%); Set using Measured Move Objective of 1/2 of prior trend leg's percentage increase
- Stop loss calculated as 1.5x CVLB's ATR at time of purchase (2.71)
Happy trading!
Note
R/R at entry: $13.78 potential gain per share / $4.06 potential loss per share = 3.39
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