Trade Planning:
- 4h Chart: Uptrend, Consolidation below recent highs.
- TTM Squeeze: 195m/4h
- Earnings Date: 4/29*
Reason For Entry:
- Playing 195m/4h chart. APRN is in a pattern of consolidation below recent highs. TTM squeeze on the 195/4h chart and momentum shifting positive. Order filled at buy zone (between 21ema and lower Bollinger Band). Position size is .75% of portfolio, small size and leaving room to avg down on trade if needed. Watching for a run into earnings.
Reason For Exit:
- APRN faded all day and closed the trade at the end of the day as the 8ema is starting to cross below the 21ema and trend breaking down. 27% loss but fractional loss to the overall portfolio.
Recap:
- The initial entry was correct at the buy zone (21ema) and position sized very small as the market was looking heavy. APRN faded most of the next day and noticed the 8ema beginning to cross below the 21ema (trend showing weakness). Closed the trade for a small loss. On to the next one!
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2020-04-20 16:00:30 | 15 MAY 20 15 CALL | buy | $1.650 | long |
2020-04-21 16:43:17 | 15 MAY 20 15 CALL | sell | $1.200 | 0 |
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