Interesting opportunity for NASDAQ:SHOO. Large price range in response out earnings. It wicked out of this symmetrical triangle, reversed when it ran into the VWAP from ATH, and then fell back to the VWAP from Februarys beginning of the formation. SHOO has slow but steady fundamental performance over the past 5 years, but isn't a strong fit with my long term holdings.
My gameplan: Entry ~$34 TP ~$36.63, just below the measured move from the start of the formation and at strong resistance of the retrace from ATH SL ~$32, at a break below the pattern.
Target was met and I exited. If it bounces off of the top of this pattern I may take a second trip. It's what these guys would have done: youtube.com/watch?v=zKZm58yEJqI