Gap Fade Long - MGM

A trade from a reader on Thursday...always enjoy when readers send trades....sometimes blogging can get a little old, great way to mix it up.

10 Minute Chart

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Stock:MGM
Entry Bar: 2
Time Frame: 10 minute
Entry Green Line: 14.59
Stop Red Line: 14.27
Result: .32 to .44
Setup Grade: B
Notes: Casinos have been strong, so this plunge looked like a good
possibility for a gap fade. Though the volume did not exceed the previous day by a
significant amount, hence the low grade. I programmed this with my broker to take 1/2 @1R, then at 2R to trail with a 1R stop.