Shared by
spyrosz
-$10 morning fade after premarket gap higher to ATHs. What was the clue for such action so as to have it on main watch and trade it??
---> Day I sell-offs always so difficult to predict and catch.
After I realized that the train had left w/o me, I stayed on the sidelines but couldn't resist the flush to S2=daily support level=$371 + 200EMA@60min=$370 + 20SMA@daily=$369.5s, esp. being so extended even on 5min chart (not to mention >15min charts).
Got long Tier I on the flush to $370-369 zone, risking stop below $369 whole number, expecting hard bounce at those levels and a retest of VWAP at a minimum.
Didn't work and I had my ass kicked here for a full Tier I loss..0-1!
After the stop-run below the 20SMA@daily, it flushed to $368. I saw how the tape froze in-front of the level, tape flashed green + it was due for a bounce, so got long Tier 0, risking very tight stop $367.5s, target same as before.
Sold 25% at the quick $1-1.5 pop from $368, but as it rolled-over towards LOD showing more weakness I quickly bailed for a small loss. 0-2..
Third attempt was the proper one. Got long at the flush to S3=$364.5-365, risking tight stop below $364 whole number, reloaded in-front of the level for the Double Bottom, risking same stop, expecting the reversal to VWAP.
Sold on the way up to target. 1-2, made the loss back and ended big green.
Difficult trade. If I had caught the short early in the morning, no way to attempt "long" in-front of such red candle:/
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2021-01-04 10:50:29 | SPY | buy | $371.240 | long |
| 2021-01-04 10:51:26 | SPY | buy | $370.750 | long |
| 2021-01-04 10:52:25 | SPY | buy | $370.610 | long |
| 2021-01-04 10:53:32 | SPY | buy | $370.240 | long |
| 2021-01-04 10:57:01 | SPY | buy | $370.100 | long |
| 2021-01-04 11:00:43 | SPY | buy | $370.300 | long |
| 2021-01-04 11:02:33 | SPY | buy | $369.610 | long |
| 2021-01-04 11:04:03 | SPY | sell | $368.990 | 0 |
| 2021-01-04 11:07:00 | SPY | buy | $368.100 | long |
| 2021-01-04 11:10:26 | SPY | buy | $368.100 | long |
| 2021-01-04 11:11:44 | SPY | sell | $368.570 | long |
| 2021-01-04 11:12:07 | SPY | sell | $368.890 | long |
| 2021-01-04 11:13:30 | SPY | sell | $368.960 | long |
| 2021-01-04 11:23:49 | SPY | sell | $369.180 | long |
| 2021-01-04 11:37:04 | SPY | buy | $368.500 | long |
| 2021-01-04 11:54:20 | SPY | sell | $367.820 | 0 |
| 2021-01-04 12:15:36 | SPY | buy | $364.998 | long |
| 2021-01-04 12:16:59 | SPY | buy | $365.280 | long |
| 2021-01-04 12:18:28 | SPY | sell | $365.900 | long |
| 2021-01-04 12:24:43 | SPY | sell | $366.440 | long |
| 2021-01-04 12:48:59 | SPY | buy | $365.380 | long |
| 2021-01-04 12:53:38 | SPY | sell | $365.980 | long |
| 2021-01-04 13:11:57 | SPY | sell | $366.890 | long |
| 2021-01-04 13:17:12 | SPY | sell | $367.400 | long |
| 2021-01-04 13:23:29 | SPY | sell | $367.790 | long |
| 2021-01-04 13:27:49 | SPY | sell | $367.950 | long |
| 2021-01-04 13:36:03 | SPY | sell | $367.750 | long |
| 2021-01-04 13:56:18 | SPY | sell | $368.490 | long |
| 2021-01-04 14:01:41 | SPY | sell | $368.190 | long |
| 2021-01-04 15:27:04 | SPY | sell | $367.650 | 0 |
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