Shared by
CapitalMastery
Summary
Decent opening trend rejection trade. ROKU jumped into prior $135 resistance levels, which was also 2day VWAP level, and I took it short, feeling pretty confident I could get a pullback into the 5min 20ma, which it gave us, and some.
Did Right
- Took a solid trade with an actual thesis behind it
- Took this kind of trade on the open, which offers the best chance for a pullback
Did Wrong
- Covered too soon, mainly because I don't really have a researched system for covering opening trend rejections like I do for opening trend bounces.
Improvements
- Do the research and incorporate a proper covering system for this setup.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2020-07-08 09:39:04 | ROKU | sell | $133.210 | short |
| 2020-07-08 09:39:06 | ROKU | sell | $133.228 | short |
| 2020-07-08 09:41:04 | ROKU | sell | $134.272 | short |
| 2020-07-08 09:42:16 | ROKU | sell | $134.480 | short |
| 2020-07-08 09:44:08 | ROKU | buy | $133.750 | short |
| 2020-07-08 09:44:16 | ROKU | buy | $133.500 | short |
| 2020-07-08 09:44:16 | ROKU | buy | $133.500 | short |
| 2020-07-08 09:44:40 | ROKU | buy | $133.710 | short |
| 2020-07-08 09:45:26 | ROKU | buy | $133.762 | 0 |
| 2020-07-08 09:47:54 | ROKU | sell | $134.230 | short |
| 2020-07-08 09:48:04 | ROKU | sell | $134.140 | short |
| 2020-07-08 09:49:11 | ROKU | sell | $134.870 | short |
| 2020-07-08 09:49:16 | ROKU | sell | $134.790 | short |
| 2020-07-08 09:51:12 | ROKU | buy | $134.000 | short |
| 2020-07-08 09:51:12 | ROKU | buy | $134.000 | short |
| 2020-07-08 09:53:23 | ROKU | buy | $133.750 | short |
| 2020-07-08 09:53:23 | ROKU | buy | $133.750 | short |
| 2020-07-08 09:54:16 | ROKU | buy | $133.500 | short |
| 2020-07-08 09:54:16 | ROKU | buy | $133.500 | short |
| 2020-07-08 09:54:17 | ROKU | buy | $133.555 | 0 |
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