PLAY: HTF CONDITION SHIFT.
Trade of the week.
Was looking for volume to come in on bid, quickly flipped to long for momentum to kick in, it wasnt there, scratched/ tight stop. As soon as this got stopped I was heightened to the short and reversed trade to short with one and done mindset. As soon as sellers came on the tape and I saw how weak the buyers were now, I relaxed into the trade. Placed scale out initially at DVAH, PVAH and DVWAP. Then in the context of the size of the SDD ++AND++ the rejection of the HTF M+2, I had the concept of a larger sell off from this area. This is what we got and I moved my initial scale out to below DVAH/Prior weeks hi 63.52.
Let the trade run well with momentum belw this to HTF FOE M+1 for final clip.
I am like a proud father of the FE:MAE on this trade and that I took the full MFE out.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2019-05-17 11:01:18 | CLN9 | sell | $63.71 | short |
2019-05-17 11:01:18 | CLN9 | sell | $63.71 | short |
2019-05-17 11:01:18 | CLN9 | sell | $63.71 | short |
2019-05-17 11:15:54 | CLN9 | buy | $63.52 | short |
2019-05-17 11:16:47 | CLN9 | buy | $63.46 | short |
2019-05-17 12:01:29 | CLN9 | buy | $63.14 | short |
2019-05-17 12:05:56 | CLN9 | buy | $62.96 | 0 |
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