Cisco Momentum Trade on volume impetus (Range)

2020년 10월 6일

Reasons for entering trade:


LOCATION: Double bottom forming off of .618, not yet confirmed.
Price currently between .618 and .786 from fib off of breakout and uptrend from 2017.
MACD: Triple bullish Divergence (Market Structure in MACD)
WILLY: Coming out of oversold (Market Structure in Willy)
VOLUME: Green bar Impetus
Notch in volume profile needs to be filled
Huge gap needs price discovery
At POC for support.

Cons:
No moving average convergence
Would like to see price action form W at a little lower level between most recent .618 and .786

Fundamentally:

Cisco is a leader in video conferencing, strong fundamentally against a backdrop of Covid isolation and quarantine. Unfortunately, lots of other very significant events happening in the US and globally that could disrupt and invalidate any TA.

Trade: R/R 6.4:1 CSCO
Front run the double bottom formation and enter trade off of .618 @ $38.74. Set stop just below bottom of potential W formation at $37.44. Sell order at $45.79 for the whole position at a fill of the notch, a revisit to the gap, and a touch of volume high on volume profile.


*Not trade advice, for entertainment purposes only. DYOR

2020년 10월 6일

노트

*Papertrade

2020년 10월 26일

거래청산: 스탑 닿음

Stop Loss, triggered, trade set-up failed.