Showing relative strength vs overall market.
Market selling-off making new lows while MA was holding above yesterday's close=$299.3, printing a picture-perfect Double Bottom in front of support.
When market found a bid and reversed, MA pushed through VWAP.
Got long filler, added Tier 0 once it held VWAP making a higher low, risking LOD=$299.3 on the dot, expecting a push towards R1=$303. A good close above R1=$303 and I wanted to hold size for a swing, profit target around R2=$306.5.
Well that trade worked quickly and above expectations.
Took 25% in-front of R1, and another 10% at $305.
Holding rest with offers at $306-305.5 area.
Wow...Broke previous day's close and took-off.
No opportunity to add for the break-out of $306.5 major resistance level I was planning.
Sold some $306-306.5 area, in-front of next resistance level $310 and as it got extended towards $315.
Had an offer to sell some more at $315.5.
Big trade.
Took some profit premarket at $315.
MA gave back wayyy to much from yesterday's move.
Opened at $313.5 and put a low of $306.3!!!
Tried to hold as much as I could, having a stop below $307 for the swing position..
But got out by mistake when I took a reversal trade at $307.5s.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2020-07-17 11:08:50 | MA | buy | $300.870 | long |
2020-07-17 11:53:43 | MA | buy | $301.100 | long |
2020-07-17 14:00:10 | MA | sell | $302.690 | long |
2020-07-17 15:19:23 | MA | sell | $304.990 | long |
2020-07-20 10:04:08 | MA | sell | $306.900 | long |
2020-07-20 10:14:36 | MA | sell | $306.450 | long |
2020-07-20 10:29:07 | MA | sell | $309.480 | long |
2020-07-20 13:23:36 | MA | sell | $312.490 | long |
2020-07-21 07:15:16 | MA | sell | $314.870 | long |
2020-07-21 12:31:46 | MA | sell | $307.600 | 0 |
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