TWLO Trade on May 14, 2020 11:06 from gbrukh: Tradervue User Stock Trades.

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gbrukh

 

This is the second trade on TWLO.

Trade
Trade the stock consolidated in the ascending triangle pattern below 187.80 in the time interval from the market open till 11:00 am. At 11:02 the resistance level was decidedly breached. The price bar which went above the resistance level was a very big $2 bar accompanied by a big volume. Retail traders cannot create such a price movement. It was the footprint of an institution (maybe several institutions) buying. Long trade: enter at the top of the big bar around 189, stop-loss at 30% retracement from the top of the big bar, 188, target - 191.25

Trade implementation.
I entered as I planned at 188.90. Stop-loss never triggered. However when the stock moved favorably about $1 it slowed a bit. I got nervous about losing my P&L and exited. LAter I made one quick scalp in the direction of the momentum.

Lessons learned.
The stock consolidated for 1.5 hours and the clearly showed the footprints of institutional buying. It went up $6 with 7 uninterrupted green bars and shot $1.5 above the target price. I captured about 25% of this move. With such a setup, need to wait for the target price before contemplating exit.


Execution detail:

Date/time Symbol Side Price Position
2020-05-14 11:06:31 TWLO buy $188.895 long
2020-05-14 11:11:46 TWLO sell $189.750 0
2020-05-14 11:15:26 TWLO buy $190.960 long
2020-05-14 11:15:47 TWLO sell $191.320 0


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