Considering how much XPEV had been beaten down, I expect some sort of bounce with the positive stimulus news this weekend. Levels marked from the daily were yesterday's high (1) and from two days ago a pivot high (2) and the high of day (3).
After the initial selloff SPY started to climb up and XPEV shortly consolidated under level (1). I entered on the breakout and with the momentum it was an easy scalp through (1) as well as the PM pivot. I could have ridden it all up to (2), which had a short fakeout before turning back.
I played it safe as this was my first trade of the week, almost +1R.
Execution detail:
You need to log into your Tradervue account to leave a comment. If you don't have one,
it takes
just a few seconds to sign up, and it's free!