Shared by
silverholden
I was a little late to the party on this one. I saw on twitter that TSLA was having an off day, so I checked it out and entered on the break of the VWAP after a pullback. I was late so I went pretty small and gave it a pretty wide stop (260.00). This ended up being good, because I came within a few pennies of getting stopped out. My initial target was 255, but after the many lessons from the week and this day of not hitting overly optimistic targets, I moved it to just over the LOD. Once this hit I began trailing my stop down on the remainder.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2014-09-19 10:35:43 | TSLA | sell | $258.760 | short |
| 2014-09-19 12:18:28 | TSLA | buy | $256.650 | short |
| 2014-09-19 13:37:49 | TSLA | buy | $258.190 | 0 |
Comments
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Very nice trade and love that setup! I have noticed that it is a powerful set up on gappers (gap down, pullback and puts in its top for the day, breaks down , makes one or two higher lows without breaking the trend line and when it does break, get in) and will often reach LOD or close to it (so great first exit). Good trade.