Shared by
beno
Technical Analysis – Long Term
-Downtrend from 2017 highs of $27
Technical Analysis – Intraday
-Longs trapped PM by down move at 8:30
-Strong support from 4.30 LOD, double bottomed
Catalysts / News
-Chinese President Xi Jinping reportedly endorsed blockchain technology and called for greater advancement into the field
Original Plan / Strategy
N/a
Review
Tried a C washout long on the open, had to try twice to nail it, red from those trades.
Had a nice A+ panic pop short after pulling in close to VWAP, traded that with less size due to falling volume.
Following panic pop short and washout long after 10am were B setups, only took with small size and got stopped out.
Grade: C
Lessons Learned:
1. Avoid washout long's that aren't near support levels (if taking one that's not, try with less size and tighter risk.
2. Increase size on A+ setups
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2019-10-29 09:34:15 | XNET | buy | $4.590 | long |
| 2019-10-29 09:34:25 | XNET | sell | $4.510 | 0 |
| 2019-10-29 09:35:01 | XNET | buy | $4.350 | long |
| 2019-10-29 09:35:23 | XNET | sell | $4.440 | 0 |
| 2019-10-29 09:50:57 | XNET | sell | $4.650 | short |
| 2019-10-29 09:58:38 | XNET | buy | $4.560 | short |
| 2019-10-29 10:02:08 | XNET | buy | $4.450 | 0 |
| 2019-10-29 10:59:00 | XNET | sell | $4.680 | short |
| 2019-10-29 11:17:16 | XNET | buy | $4.750 | 0 |
| 2019-10-29 11:50:30 | XNET | buy | $4.790 | long |
| 2019-10-29 12:11:31 | XNET | sell | $4.810 | long |
| 2019-10-29 12:39:28 | XNET | sell | $4.680 | 0 |
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