WFC Trade on Oct 27, 2020 10:11 from spyrosz: Tradervue User Stock Trades.

Easy "short" in the weakest name of a weak sector in a bad tape day.
Cannot be easier than that.

Daily was looking super-weak, with WFC hanging by a thread, looking ready to test that COVID-19 low=$22 put in May. Below $22, things could get nasty (in order to find levels below $22, we need to go back to '09...). Next support close to $20. Ouch:/

Premarket plan was to get "short" only when it cleared S1=recent major daily support level=$22.5, for the move to S2=$22.

Opened weak and immediately flushed below S1=$22.5. Found a bid at $22.35 and bounced right back to S1, giving the safest entry.

Got short Tier 0, risking yesterday's close=$22.7, wanting to add through the break of LOD=$22.35 for the sell-off to target S2. Added momo tier after the break and hold below LOD, risking tight stop $22.4s.

Covered bulk right in-front of S2=$22, held about 20% with a stop above VWAP.

Remained very weak, and in the afternoon session finally broke and held below S2=$22 for the 1st time. Covered small below S2 and at the flush just before the closing bell.

Still in small, target low $20s.

Remember that daily:

Day II extention lower. Gapped lower and faded in the morning session.
Small covers in-front of $21 whole number at the open, covered more at $20.8, because too low too soon.
Still in short-small, stop above $22.

All-out for the time being, after 2nd consecutive day of finding a bid at $20.8.
A bounce towards $22 will get me short again..