YEXT Setup and Trade Plan

Today's Featured Trade Idea is YEXT.

Members can join us in Trading Room #1 as Rick reviews the YEXT setup and other Trade-Ideas at 9:10am Eastern.  For now, here are my own analysis and a potential trade plan made using our Trader Vision 20/20 software.

YEXT has been trending Bullish since April or May, with the last leg higher lasting a month before it did a little profit-taking pullback last week. After bottoming out and showing a lack of conviction in the selling, on Friday it printed a Trader's Best Friend signal to test the b/o level of it's J-hook pattern.  I will look for a b/o Entry with a tight Stop below and Fibonacci Extension Target prices. I don't feel pressure to chase the trade as any breakout is likely to retest the $27.20 area as Support after b/o.

Trader Vision shows us that earnings should be out of the way for a couple months. It also tells us we have 4 Bullish Conditions and 2 Bearish Conditions (the short-term pullback in overall markets and the profit-taking in YEXT itself).

TV20/20 also tells us that this Trade Plan offers very limited risk ($135) to the Stop on a b/o buy. In addition, it shows us that we can reach our Trade Goal just above the 1st Target. However, if we can sell half at Target #1 and hold the remainder until the 2nd Target, this plan offers us 3.28:1 Reward/Risk with a $442.50 profit.

Having this knowledge before a trade is even entered makes it much easier to control emotions and maintain discipline.

Below is my markup of the chart and the trade plan as laid out by Trader Vision 20/20.  As a bonus, if you click the green button below, you'll be able to watch a video of the chart markup and trade planning process.

The YEXT Trade Setup - As of 9-7-18

YEXT Chart Setup as of 9-7-18

The Trade Plan

YEXT Trade Plan for 9-10-18

Note how Trader Vision 20/20 does so much of the work for you.  Knowing the ratio of Bullish Conditions to Bearish ones as well as the overall risk of the position size, risk to Stop out and the Reward possible at each Target price can help a great deal with controlling our emotions.  Knowing the dollar impact of every scenario ahead of time, allows us to make calm decisions during the trade.  It really takes the pressure off.  No guesswork.  No surprises.  No emotional roller coaster.

To see a short video of this trade's chart markup and trade planning, click the button below.

 

Put the power to Trader Vision 20/20 to work for you...

 


Testimonial

Trader Vision immediately simplified the process...immediately it provided that information and guidance to me. I knew what I would risk for how much reward, I began taking trades off at the 1st target, 2nd target, I was no longer holding all my trades for the homerun. I also began implementing the stop losses if and when they were reached, not just hoping the stock would recover.  It then became easier to see what patterns were working for me and which were not.  It provided a much more relaxed and stress-free environment. -Joan G

 

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Investing and Trading involve significant financial risk and are not suitable for everyone. Ed Carter is not a licensed financial adviser nor does he offer trade recommendations or investment advice to anyone. No communication from Hit and Run Candlesticks Inc. is to be considered financial or trading advice. All information is intended for Educational Purposes Only. Terms of Service.

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