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Jan 22, 2021 09:40


VWAP Resistance

Intraday Fundamentals
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Technical Stats
ADV 180m RVOL .40 ATR 3.71 Short 6.76% Inst Own 36.30%



Trading Plan
• Short 59 risking .33
• If the short fails look for the long on a pull back to 59 and hold a close to 60 as possible
• Long at 55.50 into the PM low consider the swing if this works
• Short 58.50 if this flushes through 58 and moves back into this level or VWAP
Reading the Tape
There was a spot where I saw a large offer and tried to work off it early in the open. I saw some action in the 61.20 range that lead me to believe I was late to that long and set up for the short from there.

This is not the way that I should have been working VWAP on this. I saw the break potential at 59. However, I felt this had a good chance of moving back into 55 ish. This broke the PM high right at the open and as it gave it up I did feel like this would move into a text of the PM low. I limited in on the test of VWAP. This gave me a quick and small profit that was not the game plan. I did need to tap out closer to 59 as this gave me the chance. I did have a 58 target and gave it 50 cents or 15 or 20 cents more than I should have had on the mental stop. A little better risk control here and I would feel better about this loss and the approach.

Execution detail:

Date/time Symbol Side Price Position
2021-01-22 09:40:56 NIO sell $58.750 short
2021-01-22 09:47:26 NIO buy $59.270 0

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