Shared by
spyrosz
Earning's play.
WFC and C #s horrible with rev. down Y/Y. JPM had rev. +3% Y/Y, but most from investment banking fees. And this thing was testing ATHs. Joke:/
Got sold premarket from R2=ATHs=$142.75-143 down to S2=recent weekly support level=$138.
R1=$141.5s, S1=$support pivot=$140.3
Premarket plan was to get "short" at the opening pop from S2=$138 to S1=$140.3, expecting a brutal rejection there and a sell-off lower, eventually making its way towards S3=$135.
Insane pop right into R1=$141.65. Market gift, no comment.
Got short Tier 0, risking tight stop $142, added another tier once it failed to hold above S1=$140.3 and broke lower + got market alignment, risking $141 for the add, expecting a retest of S2=$138 at a minimum.
Covered on target.
(+) Legit executions. Nice entries and patient with the exits.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2021-01-15 09:41:54 | JPM | sell | $141.380 | short |
| 2021-01-15 09:53:55 | JPM | sell | $139.900 | short |
| 2021-01-15 10:07:20 | JPM | buy | $138.550 | short |
| 2021-01-15 10:16:45 | JPM | buy | $138.160 | short |
| 2021-01-15 10:25:41 | JPM | buy | $137.810 | short |
| 2021-01-15 10:30:33 | JPM | buy | $137.990 | short |
| 2021-01-15 10:50:17 | JPM | buy | $138.150 | short |
| 2021-01-15 11:13:48 | JPM | buy | $137.750 | short |
| 2021-01-15 11:38:22 | JPM | buy | $138.510 | 0 |
Comments
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Great Trade!