SPY Trade on Jul 30, 2020 09:41 from spyrosz: Tradervue User Stock Trades.

BREAKING NEWS: Q2 GDP -32.9% (better than the -33.5% expected). lol

I thought maybe the GDP news scared some who were hoping to more of a surprising result.
It was gapping down premarket, below the all-important $323 inflection point.

Plan was :
a) Short the pop out of the gates to $323, risking tight stop (50c) above the level
b) Short for the break of the 200EMA@60min=$321.5 that opens the door for the sell-off to 20SMA@daily=$320 and lower.

Opened right in-front of S1=200EMA@60min=$321.5, tried to bounce but VWAP was there to hold it down. VWAP Triangle Support Break started to form,

Got short Tier 0, risking HOD=$322.5, added momo tier as it was breaking through S1 on increasing volume, expecting the move to S2=20SMA@daily=$320 and then $318-319.

Covered small in-front of $321, most of the position at target.
Held small size with tight stop above S1.

SPY put a Double Bottom at S2 and bounced back all the way to S1.

I thought what a great gift to reload some. Added back size, risking tight stop at $321.7, expecting the retest of LOD at a minimum.

Looked good at first, but the moment it put a higher low and reclaimed VWAP (confirming the Double Bottom), I knew it was time to bail.

Great executions + risk management.