DKNG Trade on Sep 14, 2020 09:31 from Cklamb: Tradervue User Stock Trades.

DKNG
Intraday Fundamentals
• Looking to range in between 42 and 43 after a spike and correction over the last two days.
Technicals
ADV 14.30 RVOL 1.04 ATR 2.99 Short 7% Inst Own 51.5%
Daily Chart

Hourly Chart

Intra Chart

Trading Strategy
• This may set up for a trend test long just above 40 and a reversal of the downtrend
• This may set up to flus the PM low and should give a short off VWAP in the first couple of minutes. It may just gap close. So, if it makes more sense to sell stop after it spikes
• 40.90 is looking like the most probable bottom of the range for the day
Reading the Tape
I am not using the tape on this trade set up most of the time. But, as this opened, there was a heavy selling at 42 after it spiked below the PM low. This would bounce in a 20 ish cent range as it came back in allowing for a solid market entry right at 42 and VWAP at the time.
Trade Management

Trade Notes

This set up seems to be working for one to one set-ups and sometimes more if I hold with the deep stop to start. I am still over managing it when it starts to work though. This broke the PM low and spiked. I did not set the VWAP entry at first because of the overall strength of the market. It did, however, bounce in a range around 42 that allowed for me to enter right at 42 and VWAP at the time. It worked against me a little but never to a point that an HoD stop was unreasonable even though it had put out 40 cents based on some PM action. But, I set at 60 figuring that 40.50 was solid target on the set up. This is solid trade and I am getting better at it. I took half off at one for one and then overmanaged the runner that could have paid this even better with a couple more minutes looking for deeper market stops.