JKS Trade on Oct 9, 2020 09:36 from WuManChu: Tradervue User Stock Trades.

Idea, Entry, and Risk:

*Idea: Continued weakness and fade after morning push vs the 55.50s.
*Entry: 54.80, small size. Scale up after further fails
*Risk: 1:3

Catalyst and News:

First red day on JKS yesterday in the parabolic daily move. Looking for continued failure.

Fundamentals:

N/A

Technicals:

Hit 55.50 HOD yesterday, expecting serious resistance into further fails afterwards. Saw major resistance at that level and weakness following.

Summation:

Entered with 10 at the 54.80s on some weakness. Used as starter size vs the 55.60s as a feeler. It started to fail at that level, so I added another 10 later, but saw the basing at the 55.40s as a sign to get out. Set stops to exactly the 56.50s and scaled down around the 56s. Watched it go farther still later and was glad I got out.

Takeaways:

-Definitely could have been much smarter about this trade. No confirmation on any key levels. Dunno how many times I need to make this mistake for it to stick.

-It's time to stop going off of trades that others are making. Slap a sticky note over your face if you have to. Had HYLN as a major watch this morning, and then let JKS take over when HYLN was frankly just that much easier and wouldn't have chopped me around nearly as hard.

-The turning point, officially down a pretty substantial number. Even if it includes borrow fees, it's pretty eye-opening.