This trade was ok with except I took again too much size for this trade as was still in mentality to get money back from my losing trades on the open.
So except for that, there were solid reasons to get short:
Failed follow through on bigger TF
48.50 is a clear level which previously acted as support
Price went below vwap
Lower high.
As mentioned, I took a good trade and failed to take a proper size with a c lear head without thinking about previous losing trades.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2020-01-31 11:54:38 | WWE | sell | $48.010 | short |
2020-01-31 11:55:06 | WWE | sell | $48.210 | short |
2020-01-31 12:05:38 | WWE | buy | $48.450 | 0 |
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Eugene watch your spy or etf sectors, market gap up and trend up. WWE broke that 48 support, and it was making higher lows and trending up. Your window of time to short where due, wait for it to test VWAP.and see how the resistance behaves in the tape.