Shared by
beno
Fundamentals
N/a
Catalysts / News / Painting the picture
-Aug 26 2020: Granted FDA Emergency Use Authorization for Saliva-Based Advanta Dx SARS-CoV-2 RT-PCR Assay for COVID-19
Technical Analysis
-SPY pattern: Consolidation
-Intraday pattern: Bear Flag
-Other notes: N/a
Strategy / Confluence / Sizing Guide / Risk
Strategy: Distribution
Confluence: N/a
Strike Zone: N/a
Sizing (lots + emergency): 1000
Risk (stop / Rs): 7.78
Review / Lessons Learned
I think the trade didn't work for a few combined reasons:
1. The LH I tried shorting into was not initiated from the floor, instead it was initiated 5c above the floor
2. Ticker had SSR
3. Ticker was at support on daily / 15m chart
Its my main loss today but its a planned loss and it was my plan.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2020-08-27 13:24:52 | FLDM | sell | $7.670 | short |
| 2020-08-27 13:24:57 | FLDM | sell | $7.670 | short |
| 2020-08-27 13:27:03 | FLDM | sell | $7.740 | short |
| 2020-08-27 13:27:03 | FLDM | sell | $7.740 | short |
| 2020-08-27 13:27:09 | FLDM | sell | $7.740 | short |
| 2020-08-27 13:27:25 | FLDM | buy | $7.790 | short |
| 2020-08-27 13:27:25 | FLDM | buy | $7.790 | short |
| 2020-08-27 13:27:25 | FLDM | buy | $7.789 | short |
| 2020-08-27 13:27:25 | FLDM | buy | $7.790 | short |
| 2020-08-27 13:27:25 | FLDM | buy | $7.790 | short |
| 2020-08-27 13:28:00 | FLDM | buy | $7.810 | 0 |
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