Trade Planning:
- Daily Chart: Oversold, Consolidation at support area.
- TTM Squeeze: 1h
- Earnings Date: 4/14-
Reason For Entry:
- Playing the 1h charts. PCS on 1h chart as DAL is consolidating at a support area. TTM squeeze on daily and gaining momentum. Betting that DAL closes over $22 by this Friday. The catalyst is that DAL gets the bailout that is expected from the government. Risking less than 1% of portfolio as I did not get the full position fill today. Will try again tomm., for the full entry position.
Reason For Exit:
- TTM fired long and price approaching resistance. Closed the full trade for almost 90%.
Recap:
- Perfect entry at the lower bb level as price consolidated, TTM in squeeze and momentum shifting positive, stayed patient and held position as TTM fired long and price moved to a resistance level. Closed the trade for about a 90% win.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2020-03-23 12:42:18 | 27 MAR 20 21 PUT | buy | $2.390 | long |
2020-03-23 12:42:18 | 27 MAR 20 22 PUT | sell | $2.830 | short |
2020-03-23 12:43:53 | 27 MAR 20 21 PUT | buy | $2.470 | long |
2020-03-23 12:43:53 | 27 MAR 20 22 PUT | sell | $2.910 | short |
2020-03-25 10:42:00 | 27 MAR 20 21 PUT | sell | $0.2700 | long |
2020-03-25 10:42:00 | 27 MAR 20 22 PUT | buy | $0.3300 | short |
2020-03-25 13:26:53 | 27 MAR 20 21 PUT | sell | $0.1900 | 0 |
2020-03-25 13:26:53 | 27 MAR 20 22 PUT | buy | $0.2500 | 0 |
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