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Lenny

MU Trade March 26 - Spotting weakness

By Lenny, in Day Trading Examples and Review

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Lenny    2

Lenny
Posted

Dear community,

Had MU on my watchlist, stocked gap up, but appeared to be weak. It gave me the appearance of a wedge/descending triangle. So I entered a short position (Papertrading)

1. What are your thoughts, and what should I have thought about the long wicks on the 5th and 6th candlestick on the 5 minute?
2. Do you like the entry?
3. What would have been your stoploss point and where would you have started to take profit?

MU_March26.png.afd408acf34fb5be6b687a07c72e9dc9.png

 

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