Gapped higher premarket above R1=major resistance/inflection level=$87-87.5 on news about Trump conciding to administration transition. Above R1, next resistance on daily R2=$90.5s.
Premarket plan was to get "long" in case of an opening flush to S1=$87.5, or S2=yesterday's close=$87, risking about 1% of price, expecting "Bullish Bias-Holdin Support" pattern, a hard bounce higher and a rally/test of R2.
I placed a bid for filler size in-front of S1=$87.5 with stop below S2=$87 and approx. 1% of price at $86.5 per plan.
Opened weak, and flushed right into S1 and S2.
Bid for filler size got hit, risking $86.5, but FSLR moved lower, broke S2 and stopped me out cents before LOD.
OK, got stopped out at LOD. Sh@t happens. I wasn't expecting to flush below S2=yesterday's close=$87.
(-) What is really frustrating is that I NEVER re-entered the trade after the hard bounce and reclaim of S2=yesterday's close=$87, S1=$87.5, VWAP!!, $88.5 premarket pivot, and stayed on the sidelines as trade was playing out exactly as expected. Tragic:/
Two days later and it's at $95. Congrats...
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2020-11-24 09:41:54 | FSLR | buy | $87.610 | long |
2020-11-24 09:41:54 | FSLR | buy | $87.610 | long |
2020-11-24 09:47:27 | FSLR | sell | $86.370 | 0 |
You need to log into your Tradervue account to leave a comment. If you don't have one,
it takes
just a few seconds to sign up, and it's free!