Entry comments: CBD stock spike on positive news with Chinese company collaboration. Been trending and consolidating nicely within a channel of .73-.84. .84 being resistant, up next will be .92. Buying in anticipation and with it hugging VWAP I see it at a positive, risking off .73 to cut if the trade doesn't go as plan. Looking for 10% on this trade into the close.
Exit comments:Made the mistake of sizing in, I realize my thought process was more of a conviction, making myself believe it was going to rise towards the HOD. As it trended below VWAP and large Seller on the ask, I had to get out. Good thing I did as it tanked quickly down to mid .60's. Take the loss as a learning lesson, NOT an Ideal pattern and is more on a Random trade as today has been slow. Plan the work and work the plan.