Notes on the trade: After a strong gap up during the pre-market session, I began to see if there was going to be some profit taking at the open (multiple market sell orders). As soon as the market opened I saw a lot of selling pressure so I decided that if the 5 min candle at 9:35 AM was higher than the one at 9:30 AM I was going to take a position. Once I saw the candle make the high I got in and was able to get my one to one kick but the market turned around and eventually stopped me out for a breakeven trade.
For my second attempt I did exactly the same thing, waited for weakness from the market and entered the position. My confirmation was the hammer candle at 10 AM which led to a move back to $31.40 which was previous support. Once in the money, I got my one to one and then sold a piece of my position every time I saw weakness.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2020-07-06 09:36:31 | VXX | buy | $31.460 | long |
2020-07-06 09:40:34 | VXX | sell | $31.580 | long |
2020-07-06 09:55:22 | VXX | sell | $31.360 | 0 |
2020-07-06 10:03:20 | VXX | buy | $31.450 | long |
2020-07-06 10:06:45 | VXX | sell | $31.600 | long |
2020-07-06 10:23:16 | VXX | sell | $31.750 | long |
2020-07-06 13:30:03 | VXX | sell | $32.000 | 0 |
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