OSTK Trade on Jan 26, 2021 09:52 from hermanho939: Tradervue User Stock Trades.

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hermanho939

 

Gap up over multiple pivots in the daily chart. Hence, presumption of long bias. Expected to challenge pivot high of 82.39 (29 Oct 20) and pivot high of 87.76 (8 Oct 20).
Presumption of long bias definitely not displaced on 1 min chart. In fact, great entry point at the close of 9:32, but for the nearly 2% distance from the low of 9:31. In any event, this is not the entry I took, so no more shall be said. Strong bullish run from 9:33 to 9:39. Non-threatening pullback from 9:40 to 9:44. First, lack of volume following 9:40. Second, although 9:43 closed below breakup candle low of 9:38, it is immediately followed by demand tail with similar volume. And then further followed by strong demand in 9:45 and 9:46. Non-threatening pullback in 9:47 and 9:48, forming higher low. Demand in 9:49; in hindsight, marginally closed above pivot high of 9:39, it is a reasonable entry with stop at a close below the breakdown candle low of that candle after 9:49. But, unable to judge at the moment. Another non-threatening pullback with higher low in 9:50. 9:51 is a breakup candle on higher than average volume. Overall, reasonably likely (in fact, quite confident) that 9:39 to 9:50 is accumulation. Around 1% risk is achievable with staggered stops (close below breakup candle low of 9:49; and possibly half before that). Hence, decision of entry after close of 9:51. Analysis is that this entry is reasonable.
Exit half after close of 9:56. Extreme anomaly, slightly more effort but 1/8 of the result with doji candle formed. In hindsight, great exit, stock is in accumulation structure from 9:56 to 10:01; and there is no reason to be satisfied that it is accumulation rather than distribution at 9:56.
Exit half after close of 10:07. First of all, correct to exit. Long breakdown candle which closed below the tails of 10:03, 10:04 and 10:05. With the benefit of hindsight, 10:08 to 10:10 was another distribution and another breakdown candle in 10:11. Although sustained the breakdown candle of 10:07, but the analysis is this is the correct exit. There is no reason at all to suspect 10:03 to 10:06 is more likely to be distribution than accumulation. 10:03 and 10:04 are non-threatening, while there isn't even any diminishing upwards result on effort from 10:05 to 10:06.


Execution detail:

Date/time Symbol Side Price Position
2021-01-26 09:52:06 OSTK buy $81.380 long
2021-01-26 09:56:02 OSTK sell $83.590 long
2021-01-26 10:08:04 OSTK sell $84.630 0


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