WEI Trade on Oct 20, 2020 14:16 from beno: Tradervue User Stock Trades.

Shared by
beno

Fundamentals

-Float = 35M

Catalysts / News / Painting the picture

-Oct 20 2020: No news / technical / Chinese tickers running sympathy

Technical Analysis

-SPY pattern: Mountain
-Intraday pattern: Bull Flag
-Other notes: Rigger

Strategy / Confluence / Sizing Guide / Risk

Strategy: Type 4 clear-out
Confluence: N/a
Strike Zone: N/a
Sizing (lots + emergency): 250
Risk (stop / Rs): 3.2

Review / Lessons Learned

Not an A+ play of mine so I was taking it with small size, clearly had my stop to tight and the rigger hunted me out of my position, -1R

Lessons Learned:

On type 4, only buy into weakness and don't have stop too tight so rigger doesn't hunt your stop.

Execution detail:

Date/time	Symbol	Side	Price	Position
2020-10-20 14:16:58	WEI	buy	$3.370	long
2020-10-20 14:19:26	WEI	sell	$3.200	long
2020-10-20 14:19:26	WEI	sell	$3.200	0

#chart1 { background-image:url('/shared/charts/pricechart?symbol=WEI&trade=20496197&end=20201020144826&i=m1&TimeRange=90&Volume=1&ChartType=candlestick&width=450&height=275');}

#chart2 { background-image:url('/shared/charts/pricechart?symbol=WEI&trade=20496197&end=20201020154926&i=m3&TimeRange=90&Volume=1&ChartType=candlestick&width=450&height=275');}

#chart3 { background-image:url('/shared/charts/pricechart?symbol=WEI&trade=20496197&end=20201020160000&i=m15&TimeRange=90&Volume=1&ChartType=candlestick&width=450&height=275');}

#chart4 { background-image:url('/shared/charts/pricechart?symbol=WEI&trade=20496197&end=20201119&i=d&TimeRange=120&Volume=1&ChartType=candlestick&width=450&height=275');}

Comments

Russthemus

2020-10-20 17:21:05

I did really expected this to fade after hours. when you say "riggers" you mean market markers?

beno

2020-10-20 22:07:34

Rigger is anyone with enough capital that purposely manipulates the stock to fulfill their agenda, they can be MM's, hedge funds, big traders, prop desks etc...

This action was exactly the same on SPI, they pulled the same tricks to lock the float: they had a tight mid-range consolidation and would trap both sides (by clearing the highs and lows over and over again), They key tell was when the stock downside halted and everyone thought it was toast, but even then they still reclaimed it.

beno

2020-10-20 22:08:18

the key tell

Russthemus

2020-10-21 03:16:43

I'm going back to take a look SPI to compare, good insight. thanks