PYPL had gapped down significantly in the pre-market on poor earnings. I entered with a short bias.
PYPL rejected VWAP (and MAs above [20, 50 on 1 min chart]).
I went short on the 2nd rejection and entered just below VWAP. The 2nd rejection provided a level of confirmation for the trade.
Stop @ above VWAP (10 cents).
First partial at 6:1 R:R (just above daily level of $116.37).
Out approx 2/3 of position at first consolidation.
Partialed out remaining position on next drop.
Execution detail:
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