Trade Planning:
- 1h Chart: Uptrend, Consolidation below recent highs.
- TTM Squeeze: 1h
- Earnings Date: 6/3-
Reason For Entry:
- Playing 1h chart. ZM is in a pattern of consolidation below recent highs. TTM squeeze on the daily and momentum is slightly shifting positive. Price entered buy zone (below 8ema) and order filled (1 contract risking 1% of portfolio). Watching for a move to new highs.
4/21 added to trade (1 contract) at lower Bollinger Band/support area.
Reason For Exit:
- Price flushed following my second entry to the trade. Closed the trade as the TTM fired short and trend was no longer valid. Loss of (1.2% of portfolio)
Recap:
- The first entry was correct at the buy zone (between 8ema and 21ema). Second entry (lower Bollinger Band) was followed by a flush in price leading to the TTM firing short and a broken trend. Closed the trade for a 75% loss or (1.5% of portfolio). The takeaway is that if the market is flushing, then I should wait for a support conformation before adding to my trade. Will learn from this and be more patient going forward. Overall it was a big percentage loss but by position sizing correctly, it was a small loss to the overall portfolio.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2020-04-20 14:07:45 | 24 APR 20 160 CALL | buy | $2.950 | long |
2020-04-21 11:32:49 | 24 APR 20 160 CALL | buy | $2.050 | long |
2020-04-21 11:50:24 | 24 APR 20 160 CALL | sell | $0.9400 | 0 |
You need to log into your Tradervue account to leave a comment. If you don't have one,
it takes
just a few seconds to sign up, and it's free!