FB Trade on Apr 4, 2019 11:19 from shefmcoy: Tradervue User Stock Trades.

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Shared by
shefmcoy

 

Long-term Technicals
Yesterday we broke out above the 174 resistance area and ran up to 178 but gave back all the gains selling off in the afternoon with market back down to the 173 level. Bouncing hard pre-market as FB has been upgraded to a Buy from Neutral with a price target increase to 200 by Guggenheim.

Intraday Technicals
There is a very evident range setup here between yesterdays high and low price. 177 area looks like a good short entry based on the price action that was showed in this area yesterday.

Managing the Trade
I shorted again as I saw the offer hold below 177.40 and begin to drop. Knowing 177 lv is significant inflection possibility. I thought about covering at vwap but did not and watched the price retrace all the way back to my entry. Heavy sellers always remained at or below 177.40 so I held through the chop. I did not cover at the 177 support level as we have triple topped between today and yesterday at 178 and were showing signs of waeakness over 177. Also the market is putting in another down candle or so it seemed. Otherwise I would have covered some if not most at 177.

Reading the Tape
As soon as I saw the offer lift and the bid jumping with speed I got out of the way. I should have cover at 177. I got that feeling to cover from watching the Time&Sales but I had just written down my reasons for not covering above. Just goes to show that you need to trust the Time and Sales and the LV2 above all when it comes to timing entry and exit points

Trade Review
Did you calculate proper share size and technical stop loss level?
yes i did 300 shares with tight stop offer hold over 177.40

Did you have patients and fight for the best price using the tape?
yes i did saw the steady offer at 177.40 and hit the bid at it dropped

Did you trade with the overall trend of the stock/market? If not the did you take profits early to reduce risk accordingly?
no i did not cover at 177, i swear i was about to as the orderflow slowed but that greed. I always love looking at my MFE after these plays. LOL

B-


Execution detail:

Date/time Symbol Side Price Position
2019-04-04 11:19:35 FB sell $177.360 short
2019-04-04 11:36:31 FB buy $177.320 0


Comments

2019-04-06 18:34:18
 

hey there how do you make PnL appear on your shared trades posts?

2019-04-06 21:26:20
 

go to dashboard, settings, trade settings

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