XPEV Trade on Mar 4, 2021 09:46 from Beghilhorst: Tradervue User Stock Trades.

In the PM I saw that XPEV was setting up to break yesterday's low and if that were to happen, there was a pretty big gapfill all the way to $27.44 which is a level from Nov 4 2020. The fact that the EV sector is cold at the moment and XPEV has very bearish momentum, I felt confident taking this short.

I entered on the break of yesterday's low and it got downward momentum pretty quick. I doubled my short position by adding at the breakdown of $29. It consolidated a bit before continuing down.

Because I was red on the week I decided not to add any more, and managed the trade by conservatively trailing my stop. I should have exited at the gapfill level but instead I trailed it bar by bar once it broke the $27.44 level. However, it immediately moved up and reversed so I got stopped out there.

Very content with the thesis and thought process on this trade. My other trades were trash (including an early pullback entry on XPEV, even though I was short biased) and this made my week green again.