Textbook long trade location on OSTK
Updated
Reasons for trade:
- Confirmed MACD Divergence
- Willy Crossed 13ema, and came out of over sold
- Confirmed W in price structure on daily
Entry yesterday (June 20, 2019) @ 10.52
Conservative First target : first RLZ 19
2nd profit taking location: Larger previous 38.2 level @24
3rd profit location: previous 12month 50% retrace: 28.19
- Confirmed MACD Divergence
- Willy Crossed 13ema, and came out of over sold
- Confirmed W in price structure on daily
Entry yesterday (June 20, 2019) @ 10.52
Conservative First target : first RLZ 19
2nd profit taking location: Larger previous 38.2 level @24
3rd profit location: previous 12month 50% retrace: 28.19
Trade closed: target reached
Felt OK taking full profits on the Options, (4X)Initial target reached, sold 75% of equity position
SL on remainder moved into profit @38.2 fib(14.38)
If stop not hit, final profit objective is 61.8(32.97)
Trade closed: target reached
Decided to close remaining, a successful trader, on to the next one...
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