DAL Trade on Jun 15, 2020 11:00 from Cklamb: Tradervue User Stock Trades.

DAL
Statistics
Total gain/loss: $18.51 Largest gain: $21.62 (show)
Average daily gain/loss: $18.51 Largest loss: $-20.70 (show)
Average daily volume: 1512 Average per-share gain/loss: $0.02
Average winning trade: $11.15 Average trade gain/loss: $2.64
Average losing trade: $-8.70 Trade P&L standard deviation: $14.38
Total number of trades: 7 Profit factor: 1.71
Number of winning trades: 4 (57.1%) Average hold time (winning trades): 9 minutes
Number of losing trades: 3 (42.9%) Average hold time (losing trades): 3 minutes
Max consecutive wins: 2 (show) Max consecutive losses: 2 (show)
Average position MFE: $8.36 Average position MAE: $-12.07
Intraday Fundamentals
• Citigroup maintains Delta Air Lines (NYSE:DAL) with a Buy and raises the price target from $30 to $38.
• Small catalyst, more of a sector play and technical levels
Technicals
ADV 61.37 RVOL 1.1 ATR 2.70 BETA 1.22 Short 4.77% Inst Own 78.5%
Daily

Hourly

Intra

Trading Strategy
• IF this spikes into 29, take it short and look for 28.20 ish on the return. 29.40 would be a decent market structure stop on this
• Short 28.50 if it consolidates there and stays under VWAP
• 27 is looking like and S2 long with and add at 26.11 as S3
• VWAP Tests at the opening if it looks like this will trend lower after the first 10 minutes
Reading the Tape
There were a few times in here that I played off the tape to get some adds and a small scalp.
Trade Management

Trade Notes
I probably should have been looking for some bigger gap close and paid a little better attention to how the overall futures had been moving throughout the opening instead of assuming a follow through dump. However, I had a gameplan for a opening scalp off the prior day's LoD or 29ish with a plan to hold until 28.20 ish. This play worked and This was a make short off a secondary set up that I was looking for. I read more consolidation under 38.50 than was actually there. I did loo to take this using the HoD as the stop. I was working ignoring the noise and waited until it started to trade just under .90. I went to flatten and took another .35 cents on a bad fill. I did not want to use a hard stop and get wicked out. But, it was the design and it may have save me a bit here.
I used 29 as a mark as this looked like this may work as a lower high and a level that had been in play a little earlier. I took a solid partial on this and stuck the stop to keep a scratch trade. However, the tape and the slow grind of .67 led me to bring the stop back into 29.01 and waited to see if it broke.
Loss management that I actually got to work for me.
I jumped at this. I entered this on momentum as it started to break and I low ticked this as the move stopped. The risk was well managed and the overall risk reduced as this looked like it was holding 30.30.
I had 30.75 marked out as I had watched the action around here an few minutes earlier and was trying to set up a long off .55 that I had missed. When this came into .74 this time the stall was different and bid start toe hold .75 and I took the trade with quick flatten as it tried to hit .89 getting filled lower on the market order.