Case Study #3: HOLD YOUR RUNNERS
+36% literally the day after a bunch of positions got stopped out.
I entered $MRK on 8/12 on the daily hammer off the 9EMA + confluence with $XLV bouncing off the daily 9 as well.
Here's how you catch runners:
- Always trim into strength
- Then set your stop to breakeven
- Continue to trim at higher key levels, never close out the full position
Your trade is risk free after the first trim, and you are then free to target higher supply zones for next trims.
And sometimes, you'll get lucky and catch a $MRNA sympathy :)
The key here is you will never give yourself the opportunity to catch monster trades if you don't hold your winning positions.
7/17 EOW Review:
$AAPL was top of watchlist again and the analysis paid off with an amazing breakout this week!
Really happy with the execution on this trade, given that it was THE anomaly of green in the sea of red in the market.
Also managed to catch the previous ATH bounce on $MU in today's morning session for over 50% gains on the cons.
I think the market is a bit broken here with $QQQ under the daily 50EMA.
Some weeks you can come in with a lot of names on your focus list, and then the intra week PA completely messes up your game plan.
The ability to think on your feet is a harder skill to develop when it comes to in the moment trade decisions, but one you have to learn to level up your trading.
I know a lot of people didn't have fun this week and I am blessed and grateful I managed to catch some good ones.
Have a great weekend, it's time to rest up so we can get back at it.