PINS Trade on Jan 12, 2021 10:12 from spyrosz: Tradervue User Stock Trades.

Gravatar

Shared by
spyrosz

 

Very tight daily/weekly chart pressing against $72.8-73.On main watch for the break-out of R1=$72.8 and push to R2=ATHs=$75.4.

I hate that stock. So choppy. Breaks-out, pushes, rolls-over, gives everything back, goes again. And every time I decide to trade it I hate myself for it. Today no exception.

Premarket plan was to get "long" only if it broke+held above R1=$$72.8-73, risking vs that level for the push to R2.

Opened below R1, broke above but failed to hold --> no entry.
They tried to sell it, put a higher low and reclaimed R1.

Got long Tier 0, risking the higher low, wanting to add more thru $73-73.1s expecting the push to R2.

One more fake-out but got quickly above R1 again, so I added another tier, risking VWAP for that add, expecting resolution this time.

Rolled over and I stopped out of latest add. Stayed with initial size.

(-) A lot of "trim and cut" core size here, dis-respecting proper technical stop=higher low/yesterday's close, only adds to commissions and frustration, esp. in such a choppy name.

Calmed, added size back vs higer low=$71.2. got the trade.

Sold small at the pop to $74, rest at $75. Could have held a small trailer here:
-- green on the name
-- have sold more than 50% of size already
-- strong close at HOD
-- weekly break-out

image


Execution detail:

Date/time Symbol Side Price Position
2021-01-12 10:12:13 PINS buy $72.760 long
2021-01-12 10:12:20 PINS buy $72.800 long
2021-01-12 10:20:06 PINS buy $72.830 long
2021-01-12 10:29:09 PINS sell $72.480 long
2021-01-12 10:41:31 PINS buy $72.680 long
2021-01-12 10:45:36 PINS sell $72.400 0
2021-01-12 10:59:17 PINS buy $72.690 long
2021-01-12 10:59:17 PINS buy $72.690 long
2021-01-12 11:15:34 PINS sell $73.400 long
2021-01-12 11:24:26 PINS sell $73.900 long
2021-01-12 14:22:15 PINS sell $74.850 long
2021-01-12 14:25:53 PINS sell $74.410 long
2021-01-12 15:24:11 PINS sell $74.700 0


Leave a comment about this trade!

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!

View plans, Sign up for free, or Log in