This is my worse process trade of the day. Jumped the gun on entry, without a valid entry signal, and was stubborn stopping out. I basically felt like I relapsed a bit on this bad habit. I was eventually able to stop out, but I got back in immediately, and so I'm not going to pat myself on the back. Once the market stop selling off, and I noticed an exhaustion candle + volume spike on ZM, I quickly re-entered my stopped position, and went max size for backside, which helped me get back all the lost gains, plus a little extra. I also did a pretty decent job holding, and getting the bulk of my exits near $252; would have been better if I used stop orders with $251.74, but good exits overall.
Unfortunately, just like FSLY, I left nearly $10 on the table, because I moved on from the trade. I was in this trade for an hour, and then when it finally started working, I got out. At a minimum, I should have gotten back in, and used the 1min/5min 20ma to help trail a stop.
At this point, ZM feels pretty overbought, and is likely in for a bit of consolidation, if not deeper pull in. It was one of the earliest virus stocks to catch a bid, so it makes sense that it may be the first to reach profit taking. Will watch price action over next couple days, but I don't have a strong bias at this point. Felt pretty choppy today, and without the big market sell off today, I don't think ZM would have had any nice moves like it did. The sell off basically shaped it's intraday price action today.
Execution detail:
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