Nailed it.
Perfect "HnL" setup on daily, rejecting previous support $212-213 and 9SMA@daily for two consecutive days. Break thru S1=yesterday's LOD=$207.5-208 gives continuation to the down-side with room up to S2=204.5-205.
Premarket plan was to let it do its thing and get short only if it lost S1=$207.5 and held below.
Held S1=$207.5 for a couple of hrs, but when I saw SPY+QQQs getting hit, the IWM midday flush to support and hard bounce to VWAP=$209, just could resist such a calculated short...
Got short Tier I after it rejected the m.average, risking super-tight stop $209.51, expecting retest of S1=LOD=$207.5 at a minumum.
Covered small in-front of S1 and sat tight to see if it would break lower.
Broke and covered most right into S2=$205.
Reloaded some at the 3rd rejection of previous support S1 and as 9SMA@15min caught up with price, covered at S2, added one momo tier after flat-line consolidation in-front of S2, expecting flush into close.
Probably asked just too much here. Closed it as it bounced higher.
(+) Executions so on-point here.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2021-01-29 12:13:39 | IWM | sell | $209.140 | short |
2021-01-29 12:19:58 | IWM | buy | $208.090 | short |
2021-01-29 12:21:04 | IWM | buy | $207.650 | short |
2021-01-29 12:38:37 | IWM | buy | $206.210 | short |
2021-01-29 12:49:01 | IWM | buy | $205.210 | short |
2021-01-29 14:21:16 | IWM | sell | $206.500 | short |
2021-01-29 14:32:45 | IWM | buy | $205.085 | short |
2021-01-29 14:49:38 | IWM | sell | $205.250 | short |
2021-01-29 15:01:46 | IWM | buy | $206.150 | 0 |
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