What a difficult name to WORK with...
I had been shaken out from $32.5 entry two days ago, but kept it on watch as it was pressing (making higher lows) against that R1=$34.2 major daily level.
Air-pocket above R1 all the way to $37.6.
Gaped above R1 premarket, so I thought that if it manages to hold above, it could rally higher.
Got long Tier 0, after flush to $34, but buyers stepped up pushing it higher, risking LOD=$34, expecting a rally to R2=$36.2s at a minimum. Ultimate target was R3=gap-fill=$37.6.
Market gift as WORK came back all-the way to LOD, put a higher low and reversed higher.
Added half-tier, risking stop at $34. One more half-tier add as it pushed through VWAP, confirming the Double Bottom pattern. Great adds on minimal risk.
Small profit taking in-front of HOD=$35, then towards R2.
I was planning to keep remaining 30% of position for a swing if it had a good close.
But market weakness ruined that trade. Got out when it broke below VWAP.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2020-07-13 09:37:40 | WORK | buy | $34.525 | long |
2020-07-13 09:38:18 | WORK | buy | $34.620 | long |
2020-07-13 10:03:23 | WORK | buy | $34.280 | long |
2020-07-13 10:28:59 | WORK | buy | $34.480 | long |
2020-07-13 11:36:52 | WORK | sell | $34.920 | long |
2020-07-13 11:42:27 | WORK | sell | $34.850 | long |
2020-07-13 11:55:35 | WORK | sell | $35.450 | long |
2020-07-13 12:05:16 | WORK | sell | $35.890 | long |
2020-07-13 12:32:20 | WORK | sell | $36.140 | long |
2020-07-13 13:06:18 | WORK | sell | $35.972 | long |
2020-07-13 14:00:00 | WORK | sell | $35.210 | 0 |
You need to log into your Tradervue account to leave a comment. If you don't have one,
it takes
just a few seconds to sign up, and it's free!