This was an A+ setup for CFP that deserves to be play booked. ANF beat on earnings and guided higher. We got teh strong buying right out of the open We came down to VWAP with hard selling volume, however when it came back down again a couple minutes later and could still not break, I decided to go long riksing VWAP. Inital sell into 1/1 R/R. Second was at HOD where it had a hard time getting above. Third was at key 26 level. And the last was on the clear break of trend and break below 26 a level of consolidation.
IN this trade I did a great job of fighting for price and staying patient on my entry. I believe all of my sells were valid, and I like that I had one last piece on the backside to confirm the move is most likely over. These are the trades I need to be taking. What made this A+ setup, a great catalyst that was showing stregth in premarket and the first 15 minutes, it got to a level it could not get below, and once the offers lifted it took off.
What I could have done better: i don't want to add as I have not created rules because I want to develop consistency first, but there was a clear opportunity once it was holding above HOD. If I can prove to myslef this week that my stock selection has improved by identifying A+ setups similar to this, then I will develop rules to adding during the weekend.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2019-03-06 09:54:21 | ANF | buy | $24.812 | long |
2019-03-06 09:55:41 | ANF | sell | $24.980 | long |
2019-03-06 10:06:56 | ANF | sell | $25.433 | long |
2019-03-06 10:42:06 | ANF | sell | $25.937 | long |
2019-03-06 13:32:39 | ANF | sell | $25.980 | 0 |
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