JMP 15.08.19 Long

Asset and Time frame -JMP, Daily&Weekly
Entry Price -101$ - 101.84$
Exit(Stop Loss) -98.79$
Exit(Take Profit) -115.06$
The range between SL and entry - 2.61$

Technical Analysis -Weekly Chart - Fibonacci made an ABC pattern and the chart is bullish, although we broke the 100SMA and the double top, we need to remember that the earnings were positive.
Daily - Daily chart made an ABC pattern and then went down further to the -61.8 level, the next level is the -1, this is where I will place a Limit Order to buy the stock, But,a few things to consider before buying or placing a limit order.
The Market-The market is very bearish atm because of the inverted yield curve, so we have a lot of sellers and panic right now, only buy if you see a reversal candle off the -1 Level with some good positive momentum, would be better if you have some kind of divergence from the RSI.
Why not enter the trade -Market is strongly bearish.
What direction does the market move -Weekly bullish, Daily is bearish.




What can be improved -
Conclusion & End of Trade -