Second day play after bull-flag resolution on daily and yesterday's digestion day.
Opened flat around VWAP, consolidated around the m.average holding above $91.
When volume came,
entered long half Tier I, risking $91, expecting the move to $92.5.
Trade didn't play out as expected since market rolled over at same time.
However, QCOM was holding well above $91 which never got tested. It tried to sell-off lower 3-4 times, but buyers were there above $91 to support the name.
Well, that gave me confidence on the trade and I should have looked on ways to add back shares to the long, since I was already green on the name.
Finally, QCOM broke the flag and moved higher. But before the explosive move higher, did a sudden flush to VWAP which scared me and got out of 30% of the position!!!
(-) I got out 30% of the remaining position when I was risking against $91 all-day and finally was in a position of strength+had confidence on the trade+looking for places to ADD!! What a great opportunity this would have been to add back size to the long. Instead, I got out.
Then it moved to $92.5, but I had so small size left...
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2020-07-02 09:47:54 | QCOM | buy | $91.210 | long |
2020-07-02 09:48:27 | QCOM | buy | $91.270 | long |
2020-07-02 09:48:30 | QCOM | buy | $91.320 | long |
2020-07-02 09:48:30 | QCOM | buy | $91.320 | long |
2020-07-02 09:49:05 | QCOM | sell | $91.490 | long |
2020-07-02 10:08:59 | QCOM | sell | $91.480 | long |
2020-07-02 11:29:19 | QCOM | sell | $91.360 | long |
2020-07-02 11:50:25 | QCOM | sell | $92.330 | 0 |
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