Following on from yesterday’s theme of not every trade being a big winner, here are a couple more smaller wins. One was even a long trade, which is a novelty because it feels like there have been an awful lot of shorts so far this year (with the obvious exception of the-stock-that-must-not-be-named).
This was similar to the AMD trade I posted yesterday, although the setup wasn’t the same. It was another one-bar-wonder, with momentum departing on the next bar and a decent bounce almost inevitable. Not a big win, just $380 on this one, but these are the bread and butter trades that keep us in the game.
The other one I wanted to post today was a bigger winner, but as I said above this was to the long side which feels like a novelty these days. Here’s PENN:
This was an even better setup, and the momentum kept this trade going for a whole two bars. As the volume suggests, the momo ran out then so it was time to leave.
Both these trades were on sub-$50 stocks, which makes them super-accessible. Neither was a four-figure banger, but they were simple, short, sharp wins and just these two combined to four figures. There were plenty of others, too.