January 12, 2020: Part II

Macy's (M) sets up as a pullback entry in the bread and butter style with volatility contraction.

Entry pivot:  17.81
Stop pivot:   17.35
Target (1R):   18.27
Trade risk:  2.7%

As always with our pullback/swing entries, there are three trade management possibilities that are preferred:

1)  Exit entire position at 1R in profit
2)  Exit half position at 1R in profit, move stop to breakeven on the remaining half, and trail it as price moves higher
3)  Use this as an entry into a position trade, i.e. over the intermediate term (several weeks to several months)