This was my favorite trade of the day because it showcased the power of the trading system/strategy I've been working on. Waited to enter trade until we got a 5min 20ma cup w/ a 20min bar break, to indicate that the move was over. While I didn't stay in trade until the end target, sure as shit the 120min 20ma target was hit in first 5min of after hours, and it even surpassed it. This is huge as my system is showing promise for entering these trades once the backside is in, and with a reliable target to base R:R off of, and also to help let me know how much meat is still in the move. While I have a lot more research, and analysis to do, I'm super excited by the potential with these prior wide range day trend reversal trades.
Had a thesis I wanted to test out, and stayed patient for my entry signal before opening a position.
Took the whole trade off well before the planned target, but given this was my first time testing things out, I didn't want to overstay my welcome. I should have at least held on to one lot though.
Do more research/analysis, and start tracking my results on these trades.
Majority of the meat is gone on this trade, but will follow it to see how things play out over the next couple days. Although, if it's anything like BOXL, could trend nicely down, with the 20min 20ma, over the next few days. BOXL shed another 22% after it reached its 120min 20ma, over the subsequent 2 days.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2020-07-28 14:46:39 | CAPR | sell | $11.480 | short |
2020-07-28 14:52:10 | CAPR | sell | $11.320 | short |
2020-07-28 15:29:00 | CAPR | buy | $11.010 | short |
2020-07-28 15:31:43 | CAPR | buy | $10.760 | 0 |
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