AGQ initally sold off in premarket and during opening bell, but retraced back to the 50 EMA on the 5 min. It then reversed and sold off again below vwap, creating a symmetrical triangle or a double bottom with the second low being higher than the first. I waited for the break above the upper trendline to go long. I entered on the break with a price target at 58.00, which was the 200 ema. The price made multiple attempts to push higher but kept getting sold off, so I closed out at breakeven. Didn't want to finish friday on a red day, especially after a lackluster week.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2020-08-21 10:49:07 | AGQ | buy | $57.066 | long |
2020-08-21 11:11:34 | AGQ | sell | $57.095 | 0 |
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