Shared by
TradeTheSpike
Gap Down Downtrend Short
Big Picture…Market in strong uptrend.
Fundamental…Shares down 10% per market on a Trial Misses Primary Endpoint.
Technical… 5year monthly chart shows uptrend. 3year weekly chart shows uptrend. Both time frames pre market price is well below the upward trend support lines and pushing back into the upward trend.
Reading the Tape…Pre market lots of green prints. Not too much red but some selling is accruing.
Trade Management…Looking for opening push toward resistance for a short.
Trade Review…Way to early on my entry. Started 250 and added 250. That was the max risk I wanted to take. Trade ended well. Need to wait a little bit longer for entry or add more risk using monthly and weekly as resistance points.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2020-02-10 09:31:00 | BHVN | sell | $45.510 | short |
| 2020-02-10 09:31:00 | BHVN | sell | $45.510 | short |
| 2020-02-10 09:31:00 | BHVN | sell | $45.510 | short |
| 2020-02-10 09:33:00 | BHVN | sell | $46.910 | short |
| 2020-02-10 09:33:00 | BHVN | sell | $46.910 | short |
| 2020-02-10 10:37:00 | BHVN | buy | $45.370 | 0 |
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