Base breakout

  • difficult market todayI liked
  • strong first move out of the open
  • stalled near previous days high
  • sold off pretty strong
  • came back strong into the high
  • then fell slowly into the rising sma 20/5
  • I really like to buy these second bounce in a range trades before the breakout
  • Did not see it in time to buy it above the 5 min bar bouncing off the sma 20
  • It almost looked like it would be a scratch around noon, just missed the stop
  • Hit target after 14:00
  • Closed remaining 5 min before the close
  • Risk: 15 ct. Reward: 35 ct + 46 ct = 40,5 ct
  • 2.7R