Adding more at 73.25 stop adjusted to 69 avg is ~75 First target is 82 stop will move to breakeven at 82 second target is 1290
Volente, I`m surprised to see you make this trade considering you like to sell into strength and buy into weakness? You`ve also said earlier that you never chase a long with a gap below? I could understand it if we had a magnet above, but 85 does not seem very special. You had a trade idea with a set stop and target. The moment we traded through your stop for whatever reason that happened, your initial idea was wrong. What prevented you from taking the loss? I think averaging down or scaling in is smart if it is part of the original plan, but if one start doing it in order to avoid taking a loss, it can be very dangerous. I`m only writing this because I think you are a great trader that I`ve learned a tremendous amount from, but it seems you are too stubborn those few times when you`re wrong. I`m sure you do not care for my opinion, but here it is anway. I sure hope you don`t call the bouncers on me now as I like this bar.
Got me. LF the open gap is at ~80 Es and that is why I was buying weakness. Rebought the whole position at 66.75 with a 4.25 point stop and target of 80