N/a
-Technical move
-SPY pattern: Runner
-Intraday pattern: Mountain
-Levels: 4.6, 5.2, 5.5,
Strategy: First test
Confluence: VWAP
Strike Zone: 5.63 - 5.5
Sizing (lots): 2
Risk (stop / Rs): Hold below 5.5
Got to full size but stock was heavy the whole time, took partial profits at 5.78 and added near the bottom of my strike zone, stopped out when more weakness entered the tape below 5.5.
Looked at volume distribution after and it was clear that this was a death candle trapping all momo longs. In other words this stock was too top heavy.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2020-05-22 11:05:35 | EOLS | buy | $5.690 | long |
2020-05-22 11:05:38 | EOLS | buy | $5.690 | long |
2020-05-22 11:05:38 | EOLS | buy | $5.690 | long |
2020-05-22 11:08:34 | EOLS | sell | $5.780 | long |
2020-05-22 11:11:43 | EOLS | buy | $5.510 | long |
2020-05-22 11:13:36 | EOLS | sell | $5.420 | 0 |
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