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Cklamb

 

GILD

Jul 10, 2020 12:04


Tags:

Hold Support Play

GILD
Intraday Fundamentals
• Gilead says remdesivir coronavirus treatment reduces risk of death
o Headline only right now
Technicals
ADV 16.22 m RVOL .31 BETA .71 ATR 1.94 Short 2% Inst Own 82.6%
Daily Chart

Hourly Chart

Intra Chart

Trading Strategy
• If this breaks 77 and holds, wait for a small pullback into the level get a small long to work into 77.50
• Short 77.50 if this moves and spike to that get it off @ 77 and see if the first set up works
• I would expect this to come back in gap close at 76 during the open and maybe even flush into 75.50 , if this shows some bottoming action there you could work a 50 to 150 for a possible trade to hold
• VWAP tests if the spread and SMA momentum stuff if the spread is reasonable
Reading the Tape
Trade Management
Trade Notes
I was focused on this at the opening even though the spread was large and the tape was hard to read.
I had a plan to try and catch 75 on the early gap close. I missed the entry and filled pretty high. I added in to work the cost average and little closer. I had this set up to be a trade to hold for the morning. I did not stick to the plan here and took it off as it stalled just above my cost average. This turned out okay. However, This trade should not have worked for the trade to hold that I had planned. I just need to note that I entered poorly and added foolishly.
Intraday or round number support play. I was expecting this to start trending higher as it had just broke to a new HoD. The price action played right at 76.45 to .55 for a couple of minutes. This trade made sense. But, it was a feeler trade that let a third ride risk free if it was going to break to new highs.
I got aggressive and this was part of what put me behind for the trading day. i need to tap this a little closer to 76.50 and work the break to reduce the risk that I took on this trade. Plus, I chased this on ba discipline. I keep trying to catch momentum when it is already two or three minutes in. This late in the trading day that is not the wisest move.
There is a series of trades in here where I kept trying to catch a falling knife. I would size up pretty large a couple of times doing this. I would make beck enough to make me feel like I was aggressive enough to make some good bets but after the first couple attempts to long this. I should have waited for some bottoming action or just I got aggressive and this was part of what put me behind for the trading day. i need to tap this a little closer to 76.50 and work the break to reduce the risk that I took on this trade. Plus, I chased this on bad discipline. I keep trying to catch momentum when it is already two or three minutes in. This late in the trading day that is not the wisest move. Try to stay on the side of the momentum.


Execution detail:

Date/time Symbol Side Price Position
2020-07-10 12:04:32 GILD buy $76.495 long
2020-07-10 12:04:38 GILD buy $76.497 long
2020-07-10 12:04:57 GILD buy $76.470 long
2020-07-10 12:05:06 GILD buy $76.473 long
2020-07-10 12:06:09 GILD sell $76.514 long
2020-07-10 12:06:10 GILD sell $76.520 long
2020-07-10 12:06:11 GILD sell $76.513 long
2020-07-10 12:06:14 GILD sell $76.500 long
2020-07-10 12:06:17 GILD sell $76.503 long
2020-07-10 12:07:05 GILD sell $76.480 0


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