NTRP was running up and holding strong all morning. It had a big gap to fill on the daily to 4.30. I was waiting for an entry on the pullback and I had my line around 2.50 hoping for an early washout but it held up all morning. Instead, I waited for the washout around the VWAP level to trap shorts because this was an ETB ticker and the next leg up would need a squeeze to break HOD. The price action started bottoming out around 2.90 level and climbed back up. I wanted to see what the price action would do around the vwap and if volume would come back in. It broke over vwap with ease so I waited for confirmation that it would hold. Once it held I got in at 3.12 and had a target profit of HOD with stop loss at 2.89.
Risk: 21c Reward: 38c