Had tried the $55 break-out a couple of days ago for a papercut. On main watch today for the same trade. Break and hold above R1=$55 opens door to R2=$58-59 area.
Opened above R1=$55 and exploded to $56 on big volume and RVOL>1.4.
Put bids $55-55.25 hoping for a pullback, got hit 1/2, risking very tight stop below R1=$55, expecting the break of HOD=$56 and push to $57 for starters. Placed some offers $56.9+ to sell some.
Put a HOD=$56.75 and rolled over hard.
Spent 1.5-hr of bidding as close to $55 as possible building nice size, risking $54.99 thinking it would try again at least to $56.
Indeed tried to lift-off base but met a brutal rejection at VWAP so I knew it was time to play some defense. Trimmed 1/3 at b/e, 1/3 once it lost $55.15 (which had held three times), got flat per plan. Papercut. Disappointing:/
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2021-01-14 09:37:30 | DKNG | buy | $55.290 | long |
2021-01-14 10:03:20 | DKNG | buy | $55.320 | long |
2021-01-14 10:03:40 | DKNG | buy | $55.340 | long |
2021-01-14 10:53:12 | DKNG | buy | $55.410 | long |
2021-01-14 11:28:23 | DKNG | sell | $55.230 | long |
2021-01-14 11:28:23 | DKNG | sell | $55.230 | long |
2021-01-14 11:47:59 | DKNG | sell | $55.120 | long |
2021-01-14 11:54:24 | DKNG | sell | $54.880 | 0 |
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