From my notes the day of the trade:
PRPL — Purple Mattresses — Which I mainly looked at because it’d be a short and I don’t love my pillow, has some characteristics that make me want to take this short. Price has been dropping since last March, there was a bit of a rally throughout this month, but as of the last few days, price seemingly is pushing back down. It hit some support from the rally and had a bit of another up move from there, but looking at the hourly chart, price pushed above the upper band and ultimately closed below it. All signs pointing toward more weakness. I think I’ll run numbers here too and see if I can get in anywhere
Entry – $1.75
Exit – $1.85
Updating on 4/18
I held this until 4/12, when I exited at $1.85. I didn’t mark down my entry price here, but looking at it now, I got in at $1.75, so it was a profit! I’m trying to jog my memory for when/how I exited this trade, but it’s not coming to me. I can’t imagine I did anything other than follow my rules — wait until .5R and then set a trailing stop. Seeing as how I got out at exactly 10¢ above my entry, I imagine it was a 10¢ trailing stop that was triggered pretty quickly. Not the greatest trade, but a profit and a positive and encouragement to keep pushing