Shared by
Goku_BOWS
Daily Setup: Earnings gap down, PPI hot
Intraday: Waited for a pullback to the 8EMA (or close to it) on the 5. It stalled out and I expected the flush since it was tailing at that level. Stop right above level. Fighting the market strength, but thought earnings would prevail. Stop too close since 8 EMA not caught up. That stop appeared to be a shake out withe a nice tail so I re-entered and added when it started to break $39.
Results: Stopped on 2 attempts
Entry: Pullback to 8EMA
Stop: above range
Target: 2:1, $37, $35
Successes: Looks like the idea worked, just timed entry wrong.
Areas to improve: Ensure 8ema has caught up. More market correlation.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2023-02-16 10:14:00 | RNG | sell | $39.110 | short |
| 2023-02-16 10:15:00 | RNG | sell | $39.260 | short |
| 2023-02-16 10:15:00 | RNG | buy | $39.470 | 0 |
| 2023-02-16 10:20:00 | RNG | sell | $39.230 | short |
| 2023-02-16 10:24:00 | RNG | sell | $38.900 | short |
| 2023-02-16 10:32:00 | RNG | buy | $39.700 | 0 |
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