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$FIVE M5 short scalp

Five Below, Inc. engages in the operation of shopping center. It operates through the following segments: Leisure, Fashion and Home, and Party and Snack. The Leisure segment include items such as sporting goods, games, toys, tech, books, electronic accessories, and arts and crafts. The Fashion and Home segment consists personal accessories, “attitude” t-shirts, beauty offerings, home goods, and storage options. The Party and Snack segment offers party and seasonal goods, greeting cards, candy, and other snack and beverages.

This is an example of very short-term scalp on the small 5 minute time frame.

The position has been opened at the top of wave C of flat ABC correction into wave 4 on this bearish sequence. The most secure and least risky trade is taking the 5th wave of an Elliott Wave sequence. The best practice is to roll stops just above the smaller degree wave 4 of the wave 5 once the price breaks the low of wave 3. That way the position is protected and part of profits locked, no possible loss no matter what happens next.

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