Trade Journal: Long CDE - 2/6/2020
Updated
Put on a hedge trade with CDE encase markets roll over after this extended bounce. CDE is retesting the prior breakout point and 30m timeframe is showing a rounded bottom pattern. Super obvious accumulation going on in CDE near the bottom.
Long - 6.33
Stop Loss - 6.00
Target - 8.50
Long - 6.33
Stop Loss - 6.00
Target - 8.50
Comment
Oops.. I realize I put the wrong chart. Daily chart:
30m Chart:
Nice rounded bottom and breakout on the lower timeframe. Good example of multiple timeframe technical analysis.
Trade closed: stop reached
Tightened up stop loss yesterday and got stopped out at 6.03. This seems to be the theme in choppy markets. Continued strength in the markets made me close this hedge early unfortunately.
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