Daily Setup: Base breakdown, break of support $114 area
Intraday: Pullback to MA and reverse.
Small gap down with market and with low volume pulled back to the 9EMA and gave a red candle with a decent tail. I added some when it seemed to hold. Got stopped out on that trade when it broke highs. That candle immediately reversed again and I jumped in, quite slowly and not a great price. I added with the inside candle breaking to the downside and then more when it pulled back to my entry with the market acting very weak. Traded around the core position several times adding around the 9ema and covering near lows or the 25c and 50c levels. still holding 1/4 position, well into the money
Layers of probability: Daily support breaking, Market support breakdown, good intraday setup pullback to MA,
Layers against: Chips/semis relatively strong today, MU was going green and holding, more vol
Entry: Pullback to MA
Stop: HOD
Targets: 25c and 50c levels, $110 for last lot or trailing stop.
Successes: Went small enough to make two attempts, nice add-backs and scaling, good profit maximization strategy
Areas to improve: Could've been quick on re-entry, wasn't expecting a quick flush like that. Little bit of revenge, sized too big on second attempt.
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!