Qullamagie Wisdom@QullamaggieHQ
Q on your stop should never be more than ATR.
This is actually pretty decent setup if you were ready to buy it opening range highs, now there's no entry here but this is a pretty decent one. Momentum leader, high ADR, surfing that rising 20 day and you know it had this tight range and it was breaking out on high volume but the entry was like sub 1.80 definitely sub 185 was the entry, the average true range on this thing is 16 cents, so today's low is 172 so your entry was no higher than let's see 188.
No higher than 188 should have been your entry because one of my rules is that the stop shouldn't be higher than the average true range.