Updating on 12/8
Looking at my screenshots, it looks like I took this trade on a continuation after a fairly sizable gap down. But looking today, it looks like it was me chasing something that wasn’t there. Granted, things have been down overall since February, but bottomed out twice in June and again in October and has been pushing up since then, taking out a couple of resistance areas.
Looking at the daily/4h chart today, I’m actually considering it for a long swing trade. Unfortunately, I think this is just one of those where I felt like I needed to do something, so I took a shot. I need to fix that.
Entry – $36.60
Target – $36.00
Stop – $36.70
R:R – 6
