Shared by
Mhpapp
Analysis:
$2.25 area strong area of resistance based off the weekly chart.
Looking off the hourly chart this 2.25 level has been tested three times over the last couple months, each time with a spike followed by a deep pullback and then multiday downtrend.
Thesis:
Let history repeat itself. Taking short position. Expect another pullback and downtrend. Target exit set for Fib retrace 50-61% (around $2.00). I had my fill order set at 2.05, just missed. Will hold over the weekend. If consolidation occurs and if we go sideways I'll take off breakeven. If it takes another quick leg up I'll just add to the position. I won't stay in it though if it becomes a slow grind up.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2020-09-18 11:20:13 | WPRT | sell | $2.220 | short |
| 2020-09-18 11:26:11 | WPRT | sell | $2.281 | short |
| 2020-09-22 09:51:00 | WPRT | buy | $2.200 | short |
| 2020-09-22 10:13:15 | WPRT | buy | $2.150 | short |
| 2020-09-22 10:18:51 | WPRT | buy | $2.070 | 0 |
Leave a comment about this trade!
You need to log into your Tradervue account to leave a comment. If you don't have one,
it takes
just a few seconds to sign up, and it's free!