• Upgrade in rating
ADV 180m RVOL .40 ATR 3.71 Short 6.76% Inst Own 36.30%
• 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.
I needed to hold the last bit here. It has been a while since I was able to take one of these intitila breaks with size. I set up to have a small portion of this for the run. It it worked well let me take off the risk at .50 and leaving me with enough to try and work. I made back what I had lost on the prior trade and found myself not wanting to give it back. This is where better self talk and being able to truly realize that I have earned a risk free trade runner. When I can show these the same dexterity that I do when trading for the the HoD or LoD, I should be able to increase my average cents per share.
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