Shared by
ToqueX
Grade=C-
The setup: short the pop
The result: Got a good piece of the range between the intraday support and resistance between 81.20 and 82.00.
Entry: Got in on a pop just below 62.00 resistance
Exit: Sold toward the bottom of the range and I wanted to take my full position rather than scaling since I felt this wouldn't be a big move.
The lesson: The 2m chart helps with this sort of trade and I think my target was suitable. This is a good "lunchbucket" trade to round out a day's trading and grind out some profits. The resistance needs to be pretty set, so tape reading will help with the entry.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2015-06-04 11:16:30 | QRVO | sell | $81.880 | short |
| 2015-06-04 11:16:33 | QRVO | sell | $81.880 | short |
| 2015-06-04 11:19:38 | QRVO | buy | $81.620 | short |
| 2015-06-04 11:19:38 | QRVO | buy | $81.620 | 0 |
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