I didn’t feel the earnings was strong enough to have this gap and go. They did miss revenue on this. I believe I am going to try and go a little more in depth on this earnings report. I think that there is some other key measure that I am not currently aware of when it comes to these type of companies. I did lack figuring what the most similar ETF was doing.
This was a great small loss. I had a plan and stuck to that plan. If this was going to break down at resistance it was going to do so at the open and I had an opening wick to work with on getting a reasonable risk profile.
This is also a good example but waiting for price discovery would have gave a better idea of which side to be on and a couple of touches on the steeper moving average to get in.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2019-04-18 09:41:36 | TSM | sell | $44.490 | short |
2019-04-18 09:49:42 | TSM | buy | $44.700 | 0 |
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