Shared by
beno
Fundamentals
N/a
Catalysts / News / Painting the picture
-Aug 13 - Earnings: Smaller net loss than expected
Technical Analysis
-SPY pattern: Bowl
-Intraday pattern: Mountain
-Other notes: N/a
Strategy / Confluence / Sizing Guide / Risk
Strategy: Parabolic Fade
Confluence: N/a
Strike Zone: 7.4 - 7.6
Sizing (lots + emergency): 500
Risk (stop / Rs): Break of 7.56 swing high or a HL and bids coming in
Review / Lessons Learned
Not that best grade parabolic fade to take, stock ran yesterday and closed near highs, I had the right entry idea and I even slammed when the 7.28 lows were breaking, it made a higher low at 7.1, could have covered ITM but my parabolic fade is an intraday swing and not a scalp, so I stopped out when it made that HL and bids started coming back in, best stop/scratch of the day!
So a couple of clues that the trade was less likely to work:
- Closed high yesterday (bullish signal) - ParaFades work best on fresh gaps
- It didn't make a LL when it broke down from high (made an equal low) - ParaFades work best when death candle is obvious and LL is made
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2020-08-18 10:17:59 | REDU | sell | $7.380 | short |
| 2020-08-18 10:26:13 | REDU | sell | $7.270 | short |
| 2020-08-18 10:26:13 | REDU | sell | $7.270 | short |
| 2020-08-18 10:30:42 | REDU | buy | $7.300 | short |
| 2020-08-18 10:30:42 | REDU | buy | $7.297 | short |
| 2020-08-18 10:30:42 | REDU | buy | $7.300 | short |
| 2020-08-18 10:31:37 | REDU | buy | $7.310 | short |
| 2020-08-18 10:31:37 | REDU | buy | $7.320 | short |
| 2020-08-18 10:31:37 | REDU | buy | $7.320 | 0 |
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