Tried to take NKLA long for a double bottom bounce. Entered in way too late, should have entered around support of 30.57 but got in at resistance just above the 9 EMA. The price popped to VWAP which should have been my price target.
I think my intention was to wait for the break of the 9 EMA on the 5 min chart with the expectation that this would carry past VWAP, but that thinking in retrospect was stupid. The stuck sold off hard at the open. It was unlikely it would break through vwap on the first attempt.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2020-07-29 10:41:49 | NKLA | buy | $30.900 | long |
2020-07-29 12:07:53 | NKLA | sell | $30.720 | 0 |
2020-07-29 12:54:14 | NKLA | buy | $31.050 | long |
2020-07-29 14:03:39 | NKLA | sell | $30.645 | 0 |
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