SNAP Trade on Oct 28, 2020 10:03 from WuManChu: Tradervue User Stock Trades.

Shared by
WuManChu

Idea, Entry, and Risk:

*Idea: FF vs HOD
*Entry: Small starter on VWAP test, scale up if proven right.
*Risk: 1:3

Catalyst and News:

Nothing new here. Just the technicals.

Fundamentals:

n/a

Technicals:

Down for a few days from an overextension (could have simply been consolidation), but multiple VWAP fails suggested further downwards action.

Summation:

Papercut. Took only ten shares on some upwards momentum after a VWAP reclaim, thinking it'd fail vs the highs of the day. Only took 10/s around the 40.60s. Set a mental stop around the low 41s, expecting to scale if it remained heavy near the HODs.

It did not and ramped up quite a bit. While I saw some slight pullback near the 41.10s, I had no more conviction in the trade and took off for a minimal loss.

Takeaways:

-The tape is everything. It tells you where things are going, what's gone, and the sentiment. There is almost always something to overlook.

-Getting in means getting in small. It helps me focus, without getting over-committal, in case things go north real fast.

Execution detail:

Date/time	Symbol	Side	Price	Position
2020-10-28 10:03:05	SNAP	sell	$40.600	short
2020-10-28 10:12:08	SNAP	buy	$41.060	0

#chart1 { background-image:url('/shared/charts/pricechart?symbol=SNAP&trade=20762544&end=20201028113908&i=m3&TimeRange=90&Volume=1&ChartType=candlestick&width=450&height=275');}

#chart2 { background-image:url('/shared/charts/pricechart?symbol=SNAP&trade=20762544&end=20201028113908&i=m3&TimeRange=90&Volume=1&ChartType=candlestick&width=450&height=275');}

#chart3 { background-image:url('/shared/charts/pricechart?symbol=SNAP&trade=20762544&end=20201028160000&i=m30&TimeRange=90&Volume=1&ChartType=candlestick&width=450&height=275');}

#chart4 { background-image:url('/shared/charts/pricechart?symbol=SNAP&trade=20762544&end=20201127&i=d&TimeRange=120&Volume=1&ChartType=candlestick&width=450&height=275');}

Comments

TraderBear

2020-10-29 22:28:33

The bottoming tail retest of the bar before, coupled with the first tail of the the day would have made this an incredible buy set up in my strategy plan. My trading plan would have had me come in exactly where you did, only with a buy placing a stop loss under the tail around 40.18 risking only $20 going to 2:1 target. At 41.60... if I were not out yet, there is a three bar on the five which suggest it is going to move higher.... So, I might have pulled out 1/2 lot and raised stop OR, added to maximize profit. I know that probably did not help you, but I enjoyed looking at this. Thanks for sharing.