This is the start of my longer-term strategy. One of the first orders I put out there was FreshPet. I’ll paste my write-up about it from this morning below, along with a screenshot of the daily and weekly charts
This has actually been pushing down since Mid-2021, but since September of this year, has been making up-moves, with higher highs and higher lows. This week, it tried to push down, but is pushing closer to the highs of the week than the lows at this point. And, at that point, there’s a clear resistance area, so it might have some room to run. Granted, this has made up-moves roughly this size during this down-trend, but if there is a catalyst that I don’t know about, and price is poised to make it back to the company’s highs, this could make a ton of money
Updating on 12/8, trade exited on 11/17
Entry – $69.70
Exit – $63.73
This triggered, but never really made a profit. It largely moved sideways after I got in, before it pulled back and stopped me out a few days later. I liked the overall breakout opportunity and I don’t hate the trade overall. The only thing I have to say is, and I’ve already implemented it, is that instead of allocating a dollar amount to each mid-term trade, I’m going to simply treat it as a swing trade and risk 1%; using the 4h, maybe even 1h chart.
