Identify The Trade
On this third day of movement $AWX still had my attention for a potential entry. The price movements became wider and so my risk levels would need to also widen substantially. After a fast run up to $7, $7.50 and $8 I became interested in a potential trade.
Choose The Strategy
The strategy was to take an entry against the high-of-day at around the $8.00 level because of lower volume seen on the $8 push. This meant I was looking for a lower-high to get an entry on and then my target would be to exit in the low $6.00's.
Execute The Trade
After a failed attempt to move back up higher, I got an entry at $7.62 and after some back and forth $AWX sold off hard into the $6's where I took off 1/2 of my position. Just like I did for the last 2 days, I held the rest of my position to see if we could get further fade for the rest of the day, but to no avail. I was again stopped out towards the end of the day. Still, a green trade, I'll take it.