Shared by
spyrosz
Not on main watch. Alert hit as it tagged $55 at the morning squeeze.
Beautiful 45min consolidation below the all-important $55 daily/weekly resistance level. Break and hold above R1=$55 opens door to high 50s (R2=$59).
Got long Tier 0 at the pullback to previous support level=yesterday's HOD=premarket high=$54, risking tight stop below the level, added momo tier thru the $55 break-out, risking tight stop for the momo add $54.7s, expecting the break out and quick squeeze to $56+.
Broke above R1, back-tested it and held above for...>30mins showing relative strength vs market that was getting hit a bit at the time!!It was looking really good so I added another half tier, tightening stop for the whole trade to $54.7.
Rolled over and stopped out per plan for a papercut.
(+) Risk management on point. Filler size loss despite size.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2021-01-12 10:35:23 | DKNG | buy | $54.560 | long |
| 2021-01-12 10:39:43 | DKNG | buy | $55.000 | long |
| 2021-01-12 10:57:41 | DKNG | buy | $55.070 | long |
| 2021-01-12 11:10:52 | DKNG | buy | $55.170 | long |
| 2021-01-12 11:55:41 | DKNG | sell | $54.680 | long |
| 2021-01-12 11:55:41 | DKNG | sell | $54.675 | long |
| 2021-01-12 11:55:41 | DKNG | sell | $54.675 | long |
| 2021-01-12 11:55:41 | DKNG | sell | $54.680 | 0 |
Comments
spyrosz
Not sure. I think sth about Texas legalizing sports betting.
I could have tighten stop more here. At some point became do or die. Opted for die:(
dpaleo
I think your stop was fine, altho you could have proactively exited on the close of that 11:50 5min candle. Was flagging nicely above $55 but that candle cracked the flag. Either way you were out soon after so no big deal
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good stop. what was the news that hit at 9:56?