Shared by
mattmatt456
Super clean little $.40er.
Was working off a pretty loyal upwards trendline further supported by both the 1min 9&20ema. Noticing it had broken out of a short term downward trendline that began within the 11:05am 5min bar - which failed to reach the $8.96 resistance - it looked to have all the makings of another solid push up to the ~$9 level. Waited for a bit to confirm it was safely supported within the $8.50-$8.65 range and then entered at the 1min 9ema price of $8.55 with a $8.95 (I thought it was $8.96) price target. Once it broke out from $8.65 it was smooth sailing up the the exit.
Super clean. No missteps. Perfect execution. Could have pushed it higher by splitting the position as there clearly was room above my exit - what with the hightop trendline matching the upper vwap to show a ~$9.30 max (topped out at $9.45) - but a little dip of the toe is all I was after.
Nice to be back.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2021-09-01 11:21:32 | SQBG | buy | $8.550 | long |
| 2021-09-01 11:22:46 | SQBG | sell | $8.950 | 0 |
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