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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 had a level here. I attempted it with tight stop. It rejected initially and I did not have anything to take off. That would have gave me a scratch trade. I still would have been positioned better going in with a full tier.
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