Before today's YouTube live webinar, I bought this stock and booked profit after the session.


I had discussed the stock in detail in Friday's YouTube live market recap session that I conducted along with Metastock.

I did not buy it on Friday. As Ralph also indicated in the session, earning was today (Monday).

Today, the industry (Publishing) was strong and it was strong on Friday too.

MDP was fundamentally strong (I already showed that on Friday) - and it remained strong today after earning was announced.

It broke out of Memory on Friday.

Today I bought the stock using the CUE precision entry technique before my YouTube live session on CUE Edge/Vital, etc. demonstration.

After the session, I noticed my profit was almost 6% and decided to manage it so that it exits the trade with a profit.

I was ready to take the trade based on Friday's analysis and confirmed the analysis today after earnings and make a profitable trade using the CUE Fine Tune template/CUE precision entry technique on the 5-min chart.

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$MDP delayed its earnings date due to coronavirus outbreak.

Some traders are concerned about that. I am not. Such events/delaying events are part of traders' life. CUE traders are aware of that possibility and have risk management (sizing) in place so as not to worry about that.

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1) I bought MDP using a precise entry technique on the 5-min chart. That means I was going to book profit unless a swing setup was confirmed by the market close.

2) As I mentioned in the last post, if the price fell below the Memory support, I was going to book profit. I did that. I booked at least a partial profit at more than 5% (that I got in a few hours of trading, that too I was busy with YouTube live session - I was not watching the screen/MDP chart constantly).

3) At the end of the day, there was no swing long setup (which would happen if the price could close above the daily Memory resistance). Looking at that (no setup to hold the trade overnight), the CUE guideline would be to exit the remaining position.

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