FE Trade on Jul 22, 2020 10:48 from mrideout: Tradervue User Stock Trades.

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mrideout

 

First of all, this stock scared the shit out of me, so it's probably good I took a dump after my morning coffee.

I was originally looking at FE for a short. The stock had dropped viciously the previous day on bad news (investor fraud, class action law suit etc). I was going to enter at a break of 30.75, but just before opening bell, there was a strong move down and I hesitated, expecting there to be a possible strong reversal following such a big candle. There wasn't. FE continued down and made a same bar pull back to VWAP, creating another opportunity to go short. I hesitated. The next opportunity to enter was at 9:50 following an bearish ABCD pattern, and I was gearing up to take this trade. This time, being overly patient is what kept me out, since I was waiting for a "precise" tap on vwap's ass before I entered short. Really what this was, was hesitation due to fear. FE had huge volatility, which unnerved me.

Where I finally entered was after LOD. FE created a higher low, which indicated that the trend had changed. I entered long at the break of VWAP, which also tested the 20 EMA. There was then a minor pull back below VWAP, but held at the 9 EMA. Following this, price broke back above vwap and continued up strongly. My price target was 27.50, but I exited at 27 due to price hesitation and what seemed like in inability to break above (watching the tape 26.99 was ripping across the board and 27.00 would fail at several tests). Eventually the price broke above and continued upward, but I was already out of the trade. All good.


Execution detail:

Date/time Symbol Side Price Position
2020-07-22 10:48:13 FE buy $25.958 long
2020-07-22 11:33:50 FE sell $26.920 0


Comments

2020-07-24 08:10:28
 

bahahahah great first line. Got a nice point out of it - well done. Yea i think on the 5min, once $24 held for a higher low that was the signal at 10:40, although that solid green candle is almost too big and i d be scared of chasing that close to vwap. 10:36 on 1min would be better. But i also like waiting for entry above vwap like you did and altho it came back below the failed breakdown back below $25 at 10:53 was a good sign that bulls were now in control

2020-07-24 08:11:17
 

I used to have a rule of no knife catching companies accused of fraud but it seems that fraud is very bullish these days.

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