Markets are setting a new month and I'm seeing bullish signs as a whole for equities. Cryptocurrencies for me are not quite there but planning for an entry still.
Entering here with notable volume inflow in the CAD MJ sector. TLRY received the most reaction with news and other names following. Looking to see if this will be a mid to longer-term trend change for the names and sector.
RVOL
ATR
Average Daily Vol
Short Float
Structural Overview, 195m,
Tactical Overview, 5m (initial scale out due to market gap up on positive trade news letting the rest develop while looking to exit just below the lows of the day)
Trade Management
Tactical Overview, 65m (2nd scaled out here with the strong a.m. move and letting the rest further develop but tight stop around vwap and previous price action)
Stop out, 5m (last part of position was programmed to stop out here)
Trade Review
I'm humbled by how one good trade can make up for my 2 months of my previous underperformance for all of my trading books. This have given me a chance to experience and learn an important lesson here.
CGC is approaching a weekly resistance. All time frames except the daily and weekly are oversold. Momentum is notable bullish with news and market strength. Will be observing how price develops from here.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2019-09-03 15:58:24 | CGC | buy | $24.848 | long |
2019-09-05 11:17:31 | CGC | sell | $25.292 | long |
2019-09-06 10:47:50 | CGC | sell | $27.984 | long |
2019-09-06 10:56:15 | CGC | sell | $27.750 | 0 |
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