Perfect VWAP Bounce strategy utilized.
Entered after a strong run up then pullback and hold of VWAP with a bullish candle. Entered quickly, improving my ability to think fast on my feet and not watch the move go without me.
Large move up occurred and I was out when momentum was lost.
With these far OTM contracts, it's especially important to sell into momentum. Otherwise, consolidation is all it takes to zap the value of your contracts.
A+ trade, would take again.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2020-08-13 09:50:27 | 14 AUG 20 267.5 CALL | buy | $1.660 | long |
2020-08-13 09:52:25 | 14 AUG 20 267.5 CALL | sell | $2.150 | 0 |
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