Thursday, February 6, 2020

Some good trades LJPC and ENDP

  
ENDP was a nice trade as well, although I left some money on the table. I went long on the break of that range (rectangle). I decided that I wanted to sell the stock a day later when it looked like it was starting to lose momentum. The next day the stock went up by a lot and I saw my chance to sell into strength at around $6.04. The stock went as high as $6.35 on the intraday. Nevertheless I was happy with what I got.


LJPC is my biggest single win so far this year, profiting over 4x my intended risk. I think I closed out on it with a nice $300 profit or so. The stock just proceeded to gap up and just reach higher for whatever reason. I really don't know. All I know is that I was able to advantage of a pullback setup.

I'm starting to like this style of entering on the 10 minute chart. What I look for is a breakout from a consolidation in this time frame or a sign thatte stock will be trending once again. The LJPC trade initially looked like it wouldn't work. so I took advantage of the strong day on the 5th to sell. Have to look for more of these things.

Have a buy order on HZO which I believe looks similar to LJPC and ENDP. Hope this setup works out. 10 minute chart on the lower right...prepared to go long once it goes past that range (around $20.50 is my stop order).


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