On the left spotted ultra high volume bar, distribution started here from big money.
The stock came back to the same area and volume is drying dramatically.
creating high chance for short trade.
Entry on Monday open price
Stop loss = 38.39
Profit target 1 = 35.23
The plan :
At profit target 1 exit half of the position . and profit target 2 will be trailing stop and would be updated every day on the close. Start to trail the stop once profit target 1 is hit before PT 1 is hit do not trail the stop.
Plan 2: At PT 1 exit 70% of the position. the 30% remaining will be exited on trailing stop after PT 1 is hit.
Note: on plan 1 or 2
Do not trail the stop until PT1 is hit no trail before PT1 is hit