SCS Entry, Volume, Target, Stop
Updated
SHORT TRADE IDEA
Entry: with price below 10.82
Volume: with volume greater than average
Target: 8.90 area (this is an area, no guarantee it reaches this price, but you should be selling on the way down)
Stop: Depending on your risk tolerance; I would have a hard stop set at 11.39, 1 penny over the high of the gap up candle.
LONG TRADE IDEA
Entry: with price above 11.38
Volume: with volume greater than average
Target: 5-10% above entry price area or as long as price closes above the 8-10EMA (this is an area, no guarantee it reaches this price, but you should be selling on the way up)
Stop: Depending on your risk tolerance; I would stop out on a close lower than the previous days candle as the market is just not in a good place right now.
This swing trade idea is not trade advice and is strictly based on my ideas and technical analysis. No due diligence or fundamental analysis was performed while evaluating this trade idea. Do not take this trade based on my idea, do not follow anyone blindly, do your own analysis and due diligence. I am not a professional trader.
Entry: with price below 10.82
Volume: with volume greater than average
Target: 8.90 area (this is an area, no guarantee it reaches this price, but you should be selling on the way down)
Stop: Depending on your risk tolerance; I would have a hard stop set at 11.39, 1 penny over the high of the gap up candle.
LONG TRADE IDEA
Entry: with price above 11.38
Volume: with volume greater than average
Target: 5-10% above entry price area or as long as price closes above the 8-10EMA (this is an area, no guarantee it reaches this price, but you should be selling on the way up)
Stop: Depending on your risk tolerance; I would stop out on a close lower than the previous days candle as the market is just not in a good place right now.
This swing trade idea is not trade advice and is strictly based on my ideas and technical analysis. No due diligence or fundamental analysis was performed while evaluating this trade idea. Do not take this trade based on my idea, do not follow anyone blindly, do your own analysis and due diligence. I am not a professional trader.
Note
I did open a very small short position when the price dropped below Fridays close. I'm not typically a shorter, so I have my 11.39 hard stop in place.Trade active
Still holding a short position.Trade closed manually
Forgot to mention it but I closed this trade on 10/5 - break even.
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