WFC=Top 5 "short" PnL names for me in 2020. And this market made me to get "long" this junk. Unbelievable.
Nice daily with a 2-week tight consolidation below R1=$29.7. Break and hold above R1, next resistance pivot was R2=$30.5, and then ultimate target R3=$31.5s.
Opening drive + break above R1=$29.7 with extention to $30,
got long Tier I at the retest/pullback to R1=$29.7 + VWAP, risking previous support pivot $29.5, expecting the push to R2=$30.5.
Sold about 40% of size in-front of R2, kept rest as a swing. Target R3=$31.5.
Nice trading. Nice executions. Easy.
Small premarket gap-up the following day, sold small at $30.5s, then AUTOSTOP had to take over at the open since I got caught in the BABA -10% gap-down. Well, I guess that played out in my favor since WFC really got hit. What a junk.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2020-12-23 10:36:14 | WFC | buy | $29.750 | long |
2020-12-23 10:50:57 | WFC | buy | $29.825 | long |
2020-12-23 13:03:35 | WFC | sell | $30.195 | long |
2020-12-23 13:17:32 | WFC | sell | $30.250 | long |
2020-12-23 14:02:40 | WFC | sell | $30.385 | long |
2020-12-23 14:28:17 | WFC | sell | $30.300 | long |
2020-12-24 08:00:53 | WFC | sell | $30.490 | long |
2020-12-24 09:31:08 | WFC | sell | $30.350 | 0 |
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