Week 3 (Focus on Reversals ONLY) – $RLYP, NUGT & $SM Top Reversal

By | April 15, 2016

Nice day. Started with a dumb trade on $RLYP. Shorted thinking bad news, so quick pop into resistance and wash out but boy was I wrong. Charts below in order of how I traded from $RLYP to $NUGT then finally $SM

 

$RLYP

WHY - Stupid FOMO. Should have waited for entry at the 200SMA.

Exit - Was sick and tired of the trade as it didn't go according to plan

$RLYP 5 minute

$NUGT

WHY - Had a good run. I shorted into resistance area.

EXIT - Very wild moves so I was cautious to get out before it gets nasty

$NUGT 5 minute

$SM 

Why - Had a good run up and stright into resistance area. I wanted 25 as its phsycological number plus that would be above 200 SMA on the 5 minute chart. 

Exit - Had size so I was quick to exit
$SM 5 minute

 

P & L - 395

P & L 2016.04.15

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