Very tight daily after the explosive Power Earnings Gap Up on 10/27, two-week digestion & range trading, with R1=AVWAP from earnings day=$126.75 holding it down.
Today showed some strength in the morning and inclination to at least test R1=$126.75.
Formed a very clean asc. triangle below $125.3 seller that was trying to hold it down,
got long, risking the asc. trendline, added more closer to the break-out, added momo tier once it took out the seller, thinking it would test R1 at a minimum.
What a failed breakout (RVOL<1.0 all day long maybe it was indicative) and I tried to quickly bail. Couldn't get the offer around $124.8-125 and I took the hard stop at $124.5.
Half Tier-0 loss sounds about right on this one.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2020-11-13 09:59:52 | EXAS | buy | $124.490 | long |
2020-11-13 10:20:41 | EXAS | buy | $125.470 | long |
2020-11-13 11:07:43 | EXAS | buy | $124.840 | long |
2020-11-13 11:37:27 | EXAS | sell | $124.590 | long |
2020-11-13 11:44:57 | EXAS | buy | $125.060 | long |
2020-11-13 11:48:01 | EXAS | buy | $125.190 | long |
2020-11-13 12:01:24 | EXAS | buy | $125.120 | long |
2020-11-13 12:20:53 | EXAS | buy | $125.400 | long |
2020-11-13 12:36:06 | EXAS | sell | $124.550 | 0 |
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