Trade Journal: Long TNDM - 2/3/2020

Feb 4, 2020

TNDM has been on my watchlist for a very long time and recently, TNDM broke out of it's nearly 1 year parallel channel. The volume at the breakout was significant, and TNDM has the potential to run 20+ points due to the significance of the breakout pattern. What caught my eye is the multiple Inside Day Candlestick that were printed yesterday and today right above the breakout point. TNDM has the potential to blast off either tomorrow or the next day.

Entry - 75.94
Stop Loss - 73.20
Target - 90.00

Feb 4, 2020

Note

TNDM had a nice gap up today but quickly sold back down near the entry level. This is definitely not a good sign since it shows there are a lot of sellers interested at these highs. This might be signs of institutions who bought within the channel taking advantage of the new buyers/liquidity and selling up here. I tightened up my stop loss just below today's low at 74.90.

Feb 4, 2020

Trade closed: stop reached

Stopped out TNDM at 74.88. I have no problems getting stopped out on this play.