Knew FSLY was going to setup for a bounce reversal play, and was patient for it, but was a bit aggressive on the entry signal, which I don't regret, but I understand why the first 1min 20ma cup break wasn't a great entry point in this trade. We were below the 5min 20ma, and so should have made the trade prove itself move; at least wait for a push through the 1min 20ma, and then a higher high above the 1min 20ma. Here, I accepted the push to the 1min 20ma as the first push, which is probably safer when stock is trading above the 5min 20ma, but here it was a bit risky. That said, I was able to turn it into a really nice trade, and other than having my stop set a little loose at $76.39, I feel like this was a solid trade.
Only thing I HATE, is that I took $1.50 out of a $7 move!
Would expect some continuation to the upside now that FSLY has sold off, and the wicks have been getting bought up on the daily. Additionally, while the market was selling off today, FSLY held firm at around $77 for an hour, all through the sell-off. This is great relative strength.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2020-07-15 11:09:31 | FSLY | buy | $77.320 | long |
2020-07-15 11:10:25 | FSLY | buy | $77.527 | long |
2020-07-15 11:26:07 | FSLY | buy | $77.620 | long |
2020-07-15 11:27:38 | FSLY | buy | $77.895 | long |
2020-07-15 11:41:50 | FSLY | sell | $77.778 | long |
2020-07-15 11:41:50 | FSLY | sell | $77.740 | long |
2020-07-15 11:41:50 | FSLY | sell | $77.750 | long |
2020-07-15 11:50:49 | FSLY | buy | $77.290 | long |
2020-07-15 12:14:34 | FSLY | sell | $77.990 | long |
2020-07-15 12:14:34 | FSLY | sell | $77.990 | long |
2020-07-15 12:18:26 | FSLY | sell | $78.438 | long |
2020-07-15 12:18:26 | FSLY | sell | $78.400 | long |
2020-07-15 12:18:26 | FSLY | sell | $78.400 | long |
2020-07-15 12:19:04 | FSLY | sell | $78.740 | long |
2020-07-15 12:20:09 | FSLY | sell | $78.763 | 0 |
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