Shared by
groovegiant
PYPL had gapped down significantly in the pre-market on poor earnings. I entered with a short bias.
PYPL rejected VWAP (and MAs above [20, 50 on 1 min chart]).
I went short on the 2nd rejection and entered just below VWAP. The 2nd rejection provided a level of confirmation for the trade.
Stop @ above VWAP (10 cents).
First partial at 6:1 R:R (just above daily level of $116.37).
Out approx 2/3 of position at first consolidation.
Partialed out remaining position on next drop.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2019-07-25 09:31:45 | PYPL | sell | $116.962 | short |
| 2019-07-25 09:31:45 | PYPL | sell | $116.970 | short |
| 2019-07-25 09:31:52 | PYPL | sell | $116.981 | short |
| 2019-07-25 09:32:46 | PYPL | buy | $116.390 | short |
| 2019-07-25 09:32:48 | PYPL | buy | $116.350 | short |
| 2019-07-25 09:32:55 | PYPL | buy | $116.120 | short |
| 2019-07-25 09:33:04 | PYPL | buy | $116.309 | short |
| 2019-07-25 09:33:17 | PYPL | buy | $115.992 | short |
| 2019-07-25 09:33:21 | PYPL | buy | $115.900 | short |
| 2019-07-25 09:33:32 | PYPL | buy | $115.790 | short |
| 2019-07-25 09:33:43 | PYPL | buy | $115.369 | short |
| 2019-07-25 09:33:51 | PYPL | buy | $115.630 | short |
| 2019-07-25 09:41:39 | PYPL | buy | $115.140 | short |
| 2019-07-25 09:41:44 | PYPL | buy | $115.040 | short |
| 2019-07-25 09:42:08 | PYPL | buy | $114.985 | short |
| 2019-07-25 09:44:11 | PYPL | buy | $114.848 | short |
| 2019-07-25 09:45:29 | PYPL | buy | $114.605 | short |
| 2019-07-25 09:46:11 | PYPL | buy | $114.378 | short |
| 2019-07-25 09:46:50 | PYPL | buy | $113.885 | short |
| 2019-07-25 09:48:01 | PYPL | buy | $113.297 | short |
| 2019-07-25 09:49:04 | PYPL | buy | $113.882 | short |
| 2019-07-25 09:49:27 | PYPL | buy | $113.985 | 0 |
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