Played $BBBY for 15% profits today. It went up to about 37% profits but I had a limit sell order that got executed while I was asleep. Here's the trade for others.
Entered yesterday at close because we were hitting the 50 EMA. Expectation was to close on 20EMA today. Did it! 🔥
Entered yesterday at close because we were hitting the 50 EMA. Expectation was to close on 20EMA today. Did it! 🔥
Why did I enter $BBBY and not $AMC or $GME. I would have entered either $BBBY or $AMC because both of them had a much better options flow than $GME. I already had an $AMC call that was red and $BBBY was right on the moving averages so it made more sense.
The idea here is to look for setups that are close to their support zones (horizontal supports, trendline supports, moving averages), and enter them with strict stop losses below the supports. If they work, you're good, if they don't, you exit with minimal losses.
You'll find tons of setups on all kinds of supports and resistances using our Scany tool @ tradytics.com/scany
Please always make sure to look at the flow before entering a trade. It can inform your entries and exits.
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