Trade Journal - Long $PINS - Holy Grail Trade - 2/19/2020

19 Şub 2020

PINS recently gapped from earning but failed and pulled into the previous gap up area. PINS had recently bottomed last year but broke out and is now in a strong uptrend holding the 20DMA. Following this gap up and pullback, PINS is now at the 20DMA and bounced off it on the 30m timeframe. This is considered a Holy Grail Trade where a trending stock holding the 20DMA pulls back into the 20DMA.

Entry - 23.61
Stop loss - 22.60
Target - 27

20 Şub 2020

İşlem elle kapatılmış

Playing some defense and closing this trade at breakeven. I realize the 200DMA will may provide significant resistance bringing the R:R down significantly. Furthermore, weakening markets require tougher stance on defense.