Where has the summer gone? The markets never got the memo that it was supposed to slow down. Sizing and risk management are vital right now. If you are starting into a trade, use a starter size. Let it prove you right before you add size. That way you are involved in more trades but taking paper cut losses when you are wrong.
SPRT Pop and Fail
Pretty easy setup to identify. Each pop immediately failed. Each subsequent pop was lower than the last.
This one is a little different as it retraced the entire move. Using the high of day as your risk and just having patience to let it fade the rest of the day.
Any Amazon news usually ends up bringing a ton of attention.
Believe it or not but Nate actually made an options trade.
Knowing why something has run can give you an idea of when the eventual unwind will come.
Have a great weekend.