TGT Rectangle Consolidation
Updated
After Earnings Report and the massive sell-off, TGT spent the last few days in a sideways consolidation (rectangle) - One of my favorite setups.
Upside case: Above the top of the rectangle (155.81) I would go long targeting 161.50
Downside case: Below 150.95 I would go short targeting 146.
I am treating every trade as a scalp and I have not been holding any position for more than a day.
Upside case: Above the top of the rectangle (155.81) I would go long targeting 161.50
Downside case: Below 150.95 I would go short targeting 146.
I am treating every trade as a scalp and I have not been holding any position for more than a day.
Trade active
Entered as mentioned.6/3 146p @ 2.00
Currently + 40%
Taking half position off
Trade closed: target reached
120% closed
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