PENN Trade on Sep 18, 2020 12:20 from beno: Tradervue User Stock Trades.

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beno

 

Fundamentals

N/a

Catalysts / News / Painting the picture

-May 20 2020: Announces re-opening of its 10 casinos
-Sep 18 2020: Some leagues re-opening, good for sports betting

Technical Analysis

-SPY pattern: Fade
-Intraday pattern: Fade
-Other notes: N/a

Strategy / Confluence / Sizing Guide / Risk

Strategy: Distribution (b grade due to consolidation time and floor asymmetry)
Confluence: N/a
Strike Zone: N/a
Sizing (lots + emergency): 250
Risk (stop / Rs): 71.83 (above micro swing high)

Review / Lessons Learned

Micro high broke and bids looks like they were saving it so I had to scratch it, it tried to break out again after that but resistance held it down then it broke down, setup quality was not worthy of another attempt


Execution detail:

Date/time Symbol Side Price Position
2020-09-18 12:20:40 PENN sell $71.610 short
2020-09-18 12:20:40 PENN sell $71.610 short
2020-09-18 12:20:40 PENN sell $71.610 short
2020-09-18 12:21:51 PENN buy $71.560 short
2020-09-18 12:21:51 PENN buy $71.560 short
2020-09-18 12:22:07 PENN buy $71.670 0


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