Z Stop Update/ Trade Management

Although as an options position I would have been out of Z already, as a swing trade (equity long) position, it took out the wider 60 min Trend Channel stop which has held its entire move since the base. When the Trend Channel is broken, that's telling us the easy money of stage 2 mark-up or the trend has changed, it's not a signal to go short Z right then and there. Typically there's a short period of lateral chop, sometimes some prices that are a bit higher than the stop out area, but as far as probabilities go and easy money, I've often found it's best just to take the position off , book the gains and start looking for your next position.

 The 60 min Trend Channel hold the uptrend with no stops until today. As I said, there's typically chop and if you get lucky sometimes you can get a few extra percent, but as a systems trading screen, I've found it's best just to move on after the stop is hit.

The 5 min chart showing strong distribution on what looks like it could be a head fake move/failed breakout.

And the strength and set up for this position was the 15 min chart's positive which is clearly leading negative. I wouldn't enter Z long here, I see no reason I would keep Z long here.