Shared by
beno
Fundamentals
N/a
Catalysts / News / Painting the picture
-Rumors of Chapter 11 bankruptcy talks
-April 29 2020: Hertz in talks with creditors to avoid debt default, faces May 4 deadline
Technical Analysis
-SPY pattern: Consolidation
-Intraday pattern: Mountain
-Levels: 3.5, 4.5, 5.5
Strategy / Confluence / Sizing Guide / Risk
Strategy: FT-15 of 3.7 level
Confluence: N/a
Strike Zone: 3.8 - 3.5
Sizing (lots): 2
Risk (stop / Rs): Hold below 3.5
Review / Lessons Learned
Wasn't really planning on taking this trade, so I kind of FOMO'ed into it and reversed engineered the trade after as a FT-15 setup from the 3.7 level on the 15 minute. It was a valid trade to take in hindsight but in the moment it was FOMO, because I though it was FOMO I only went in 1 lot but in hindsight the setup warranted more size.
Lessons Learned: Always pre-plan trade and strike zone, then take trade as planned with proper size!
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2020-06-09 09:37:19 | HTZ | buy | $3.600 | long |
| 2020-06-09 09:42:47 | HTZ | sell | $3.740 | long |
| 2020-06-09 09:42:47 | HTZ | sell | $3.740 | long |
| 2020-06-09 09:48:12 | HTZ | sell | $4.070 | long |
| 2020-06-09 09:48:12 | HTZ | sell | $4.070 | long |
| 2020-06-09 09:48:12 | HTZ | sell | $4.070 | 0 |
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