Very weak daily chart, bear-flagging in-front of ATLs=$130, rejecting 9SMA@daily to the penny for 3 consecutive days.
S1=$138. Break and hold below S1, then easy at S2=$135.5, then S3=ATLs=$130.
Opened weak and immediately flushed to and tested S1=$138. Support held and bounced to VWAP.
Got short filler size to keep a close watch, risking wick thru VWAP $140, wanting to add thru $138 for the break lower. Added Tier 0 after 2nd consecutive VWAP rejection to the penny, tightening stop above VWAP, and as things were getting really tight with 9EMAs@larger timeframes catching price action, expecting the momo sell-off to S2=$135.5.
Reduced size a bit after failed break-down attempt, and got a nasty stop-out as it wicked thru VWAP and ran all stops.
Fast-forward:
-- Left it alone. Spready, choppy:/
-- Flipped long after VWAP remount thinking scalp attempt to yesterday's close
-- Stopped out quickly when it lost the m. average again.
Got short Tier 0 as it was breaking thru $138.8, risking VWAP, thinking here it goes to S2=$135.5.
Small covers in-front of S1=LOD=$138 and at the flush thru it, got flat in-front of target S2. Ran another $2.5 w/o me....
(-) After break of $138.77, backest+rejection to the penny, could have added more momo tiers.
(+) I was quick to realize original thesis/idea started playing out in a big way so got out of the scalp-long and flipped very quickly w/o hesitation..
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2021-03-16 10:25:08 | DASH | sell | $138.910 | short |
2021-03-16 10:59:48 | DASH | sell | $138.920 | short |
2021-03-16 11:10:47 | DASH | buy | $139.120 | short |
2021-03-16 11:42:46 | DASH | buy | $139.882 | 0 |
2021-03-16 13:49:40 | DASH | sell | $138.680 | short |
2021-03-16 14:07:03 | DASH | buy | $138.110 | short |
2021-03-16 14:10:10 | DASH | buy | $137.200 | short |
2021-03-16 14:25:14 | DASH | buy | $136.210 | short |
2021-03-16 14:25:28 | DASH | buy | $136.210 | 0 |
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