This is a pretty ugly and questionable trade. So on a daily time trade it appears that XLF is on a tear and about to break out above the $39 level which is previous all time high. I was bias going into the day and XLF never got above my level but I went full size regardless and hit the flatten button when it didn't work out in my favor. Then XLF had a beautiful and certainly short able pullback rip from my level at $39 all the way down to 38. I tried to get back in long but on days like this I need to be able to flip short and ride the wave instead of being biased. There is so much money to be made on the put side and I just come in with a bias everyday I plan. For the rest of this week I am going to make a plan for both scenarios and maybe be able to catch some bearish momentum.
This trade would absolutely be a playbook pullback trade.
What to look for:
Key breakout level ahead.
Set level.
Look for weak volume or indexes looking weak.
Short in front of the level once it shows signs of rejection.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2021-09-28 09:36:15 | 30 SEP 21 39 CALL | buy | $0.2300 | long |
2021-09-28 09:38:28 | 30 SEP 21 39 CALL | buy | $0.2100 | long |
2021-09-28 09:46:01 | 30 SEP 21 39 CALL | sell | $0.1800 | 0 |
2021-09-28 10:41:31 | 1 OCT 21 38.5 CALL | buy | $0.3300 | long |
2021-09-28 11:00:00 | 1 OCT 21 38.5 CALL | sell | $0.3000 | 0 |
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