UAL: Long Trade, International Travel Growth
Aug Hypothesis: International Travel Growth (Specific to Airlines)
Entered Ride trade UAL AT 53.97, risk 5.43% and TP 7.43%. I entered it after the confirmation with a bullish candle after two higher high retests and the clearing of the EMA lines in the hourly chart.
I with at 5.43% risk I wanted to enter a larger position but I held back because I'm sure I can add on as the trade continues. What was interesting about this trade is that the broad market was mostly red
Entered Ride trade UAL AT 53.97, risk 5.43% and TP 7.43%. I entered it after the confirmation with a bullish candle after two higher high retests and the clearing of the EMA lines in the hourly chart.
I with at 5.43% risk I wanted to enter a larger position but I held back because I'm sure I can add on as the trade continues. What was interesting about this trade is that the broad market was mostly red
Kommentera:
With SPX daily candle breaking above the 20 EMA signalling a potential broad market momentum shift. I scaled 50k more into this trade moving the Trade price to 52.08
Trade stängt manuellt:
Closed at a loss, it looks like my hypothesis was wrong. The focus on rising fuel prices + Discounted fare was too strong against my hypothesis that international travel was increasing