RSI bounce - I happened to throw this on the charts today. Play was right (edge) but in too early out too early. Need to be looking at better targets on a longer hold, in this case vwap target exit after it retakes the fast ema and holds after the lower low and rsi divergence.
Thinking the rsi most useful on this LOD bounce, will make a scan for it.
- strong down bias, all under vwap after opening range
- lower price low, higher rsi low (divergence)
- retake fast ema or value area, and hold
- target vwap or slow ema (closest and number near it.
Don't find rsi as useful in other plays
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2020-10-05 10:43:09 | DKNG | buy | $58.950 | long |
2020-10-05 10:45:40 | DKNG | buy | $58.770 | long |
2020-10-05 10:45:46 | DKNG | sell | $58.870 | long |
2020-10-05 10:50:22 | DKNG | sell | $59.190 | long |
2020-10-05 10:50:45 | DKNG | sell | $59.310 | 0 |
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