Wednesday, 18 January 2017

Playbook Review: JAZZ 01-18-2017

Trade Idea:

Bigger Picture: JAZZ had a negative hit; turn into a positive; coupled with a positive release. I thought it was too high to look on the long side (at least until more time had passed and it was holding trend). So initial idea was a squeeze out (of the early shorts) and a pull back.

Closest level is 130.10; but that seemed a little too far away. So needed to wait for intraday formation to get some levels to trade off.

Most important thing here is patience to wait for it to form; coupled with not being afraid to miss it. You can see I got stopped exactly where I should have been entering; and that should have been the only entry signal I took.



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