Shared by
Goku_BOWS
Daily Setup: Bear flag, bearish consolidation
Intraday Setup: Break of inside day low
Layers of Probability: 8ema caught up on daily, failed to go green, markets weak.
Entry: Break of inside day low, it broke off the open which I missed then popped and hovering around middle of range. IWM and SPY very weak, adding to probability of flush (even though this is tech, more of growth type)
Stop: HOD
Profit Strategy & Targets: Cover 50% at 1:1, 26 area, greedy trail on remainder w/ daily support breaking.
Thoughts/Thesis/Notes during the trade:
Bear flag on daily, sitting on support level.
Inside day triggered at the open, I entered on pb to that level (decreased probability of success) small position. Risk was small enough I doubled position, still small.
Covered 50% @ 1:1, risk covered, free trade.
Covered 1/4 at $26.
Trailing last 1/4
Stop HOD
Areas of Success: Calculated risk and sized appropriately, set orders and let trade work.
Areas to Improve:
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2023-05-02 09:32:00 | U | sell | $26.500 | short |
| 2023-05-02 09:34:00 | U | sell | $26.480 | short |
| 2023-05-02 09:39:00 | U | buy | $26.260 | short |
| 2023-05-02 09:42:00 | U | buy | $26.120 | short |
| 2023-05-08 09:30:00 | U | buy | $26.900 | 0 |
Comments
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Awesome trade idea and execution