PCG Trade on Jan 29, 2020 11:53 from beno: Tradervue User Stock Trades.

Shared by
beno

Fundamentals

N/a

Catalysts / News / Painting the picture

-Power lines may have started 3 California fires
-Power shut off due to safety concerns
-Company restructuring, possible bankruptcy
-Jan 29 news: PG&E Continues Chapter 11 Progress by Securing More Than Two-Thirds Support for Noteholder Restructuring Support Agreement

Technical Analysis

-Gapped up but consolidated above $15 all morning
-Broke down at 11.48am providing a good short opportunity
-Levels: 15, 14.70, 14.40

Original Plan / Strategy

First Test Short of 14.95 to 15 zone with prior close confluence

Review

Only 1 lot got filled so I had to take 10 cents of profit on the way down.

Lessons learned: Tight Levels/zones with 1 hour or more of consolidation should be played more aggressively as a lot of market participants need to stop out all at once!

Execution detail:

Date/time	Symbol	Side	Price	Position
2020-01-29 11:53:03	PCG	sell	$14.940	short
2020-01-29 11:55:24	PCG	buy	$14.830	0

#chart1 { background-image:url('/shared/charts/pricechart?symbol=PCG&trade=12712778&end=20200129122424&i=m1&TimeRange=90&Volume=1&ChartType=candlestick&width=450&height=275');}

#chart2 { background-image:url('/shared/charts/pricechart?symbol=PCG&trade=12712778&end=20200129132524&i=m3&TimeRange=90&Volume=1&ChartType=candlestick&width=450&height=275');}

#chart3 { background-image:url('/shared/charts/pricechart?symbol=PCG&trade=12712778&end=20200129160000&i=m15&TimeRange=90&Volume=1&ChartType=candlestick&width=450&height=275');}

#chart4 { background-image:url('/shared/charts/pricechart?symbol=PCG&trade=12712778&end=20200228&i=d&TimeRange=120&Volume=1&ChartType=candlestick&width=450&height=275');}