Please note I am using the logarithmic scale for these charts.
TLRY was in a clear downtrend for 78 weeks, and has since been consolidating for 34 weeks. with highs of $300, and a current price of 7.40, this thing has huge potential for a large bounce. on the 1W chart, we have been essentially range bound since the highs and have recently broken above.
Trade Idea:
I will be position trading.
Buying throughout the trading session on NOV 13th, so long as $7 to $6.70 holds intraday.
SL if price breaks back into the long term range and breaks below the current higher low on the 4h chart, around 5.35
PT above 10 selling bits and pieces on the way up. Could see this retesting $25 and even $50
TLRY was in a clear downtrend for 78 weeks, and has since been consolidating for 34 weeks. with highs of $300, and a current price of 7.40, this thing has huge potential for a large bounce. on the 1W chart, we have been essentially range bound since the highs and have recently broken above.
Trade Idea:
I will be position trading.
Buying throughout the trading session on NOV 13th, so long as $7 to $6.70 holds intraday.
SL if price breaks back into the long term range and breaks below the current higher low on the 4h chart, around 5.35
PT above 10 selling bits and pieces on the way up. Could see this retesting $25 and even $50
Comment:
sold 1/4 of position at 8.96 avg between Dec 1st and 16th (24% gain)
sold another 1/10 at 11.83 today (63% gain)
sold another 1/10 at 11.83 today (63% gain)
Comment:
out 1/10 at 14.35 today
Comment:
out of 45% of original position with avg of 50% gain
Comment:
1/20 at 15.5
Comment:
1/20 at 17.87
Comment:
out 1/10 at 17.57
Comment:
Neglected this journal for a while and didn't update PnL for this one. it turned out great and I have another TLRY swing in the works.
Improvised a bit and averaged in from Nov 13th to the 19th to attain a better entry