Stock: 2nd day earnings
Setup: Pull in short to Y-Low / 786 (counter-vwap)
Size: risk off 11.08, stop 3c, risk $100 = 3500 shares
Activator: 5m inv hammer rejection with volume off of Y-Low / 0.786 retrace from morning drive
Fight for Entry: Entered half at Y-Low and half 2 ticks below. Bid was weaker than ask for both entry halves.
Risk Mgmt and Sizing: Assumed 3c stop risking the high, $100 risk => 3500 shares
Exit: Exited half at VWAP and other half when it held above MP.
Notes:
The initial exit at vwap could've been improved / avoided by watching for price to hold at vwap before taking off size. Price didn't hold at vwap so I could've left a lot of extra size on the table for the full move.
This trade was also a counter-vwap pull-in, meaning price had reclaimed vwap at my time of entry. I am still working on these setups, and this trade is a good example of this type of pull-in entry being executed well. My entry had nearly perfect confluence with a strong intraday level (y-low) and the 786 retrace from the initial move.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2019-04-25 09:54:05 | SNAP | sell | $11.060 | short |
2019-04-25 09:54:43 | SNAP | sell | $11.040 | short |
2019-04-25 10:04:26 | SNAP | buy | $10.980 | short |
2019-04-25 10:24:24 | SNAP | buy | $10.820 | short |
2019-04-25 10:26:29 | SNAP | buy | $10.780 | short |
2019-04-25 10:27:41 | SNAP | buy | $10.800 | 0 |
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