LUV hit MA200 on 1D chart
Updated
LUV hit moving average 200 yesterday. This moving average is many times good indicator for support and resistance. In past we can see that it few times respected this moving average.
Tommorow we will know earnings for last quarter of 2019 and this most of the times move the price by 2% and more between closing and opening price.
My setup will be take profit on 55,38. Opening price could be even higher than 55,38, so it will close my trade on opening price. Stop-loss on 53,12. Of course when it will open in -4,5%, I will be in loss - 4,5%, but it can save me if opening price will be similar to closing and then it will fall.
We will see what will happen. This trade is very risky and these are just my thoughts, so don’t take this as a financial advice.
Tommorow we will know earnings for last quarter of 2019 and this most of the times move the price by 2% and more between closing and opening price.
My setup will be take profit on 55,38. Opening price could be even higher than 55,38, so it will close my trade on opening price. Stop-loss on 53,12. Of course when it will open in -4,5%, I will be in loss - 4,5%, but it can save me if opening price will be similar to closing and then it will fall.
We will see what will happen. This trade is very risky and these are just my thoughts, so don’t take this as a financial advice.
Note
My trade hit stop-loss. If I didn´t put there tight stop-loss I would hit take profit in the same day, which is really dissapointing, but it is a part of trading.Trade closed: stop reached
My trade hit stop-loss. If I didn´t put there tight stop-loss I would hit take profit in the same day, which is really dissapointing, but it is a part of trading.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.