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Feb 22, 2021 10:35


Short tip Tip

Intraday chart condition:
- Red on the day
- Lots of longs underwater from open.

Broke out of consolidation (forming a double bottom on 1-min chart), retested it and went to reach more than the price target of the double bottom (height from middle to bottom).

  • Last volume pop before a reversal is often the biggest one (super-high) even though there is no volume anomaly => someone is selling and someone is buying. Fake wedge breakout.

Sell signal
- When it breaks the up trendline
- Dips below 2.95 after fakeout over 3$

Short opportunity:
- Could've been a short trade on the break below 3$ after the failed breakout (fakeout) over 3$.
- Add on break of up trendline (indicates weakness)

Short trade note:
- Take the short only when the 3-min or 5-min (or higher timeframes, not 1-min) show the bearish shooting star on high-volume indicating a very probable reversal especially if the price is very extended.

Execution detail:

Date/time Symbol Side Price Position
2021-02-22 10:35:07 CLSN buy $2.920 long
2021-02-22 10:37:59 CLSN sell $2.940 long
2021-02-22 10:38:40 CLSN sell $2.940 long
2021-02-22 10:42:23 CLSN sell $3.070 long
2021-02-22 10:44:03 CLSN buy $3.050 long
2021-02-22 10:46:26 CLSN sell $3.030 long
2021-02-22 10:46:58 CLSN sell $3.040 long
2021-02-22 10:48:51 CLSN sell $2.970 0

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