This was a pretty crazy trade that I got out of for a small loss. There was a nice wedge forming on YVR for several hours, holding premarket high and breaking out on the daily chart. I got a nice entry after a bottom-wicking candle off the lower trendline and the trade looked like it was going to pan out well. I had a good risk level and I knew where to take profits. Unfortunately, the CEO of the company went on TV and said something that triggered a major panic selloff that destroyed the wedge pattern and halted on the way down. I got out of the trade relatively unscathed right before the halt. Being in this kind of a rapid selloff is a first for me, and definitely an interesting experience. I managed the trade well and things like this happen once in a while so I'm not tripping about it. I followed my rules so this is still a good trade for me.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2021-03-23 12:27:43 | YVR | buy | $6.270 | long |
2021-03-23 12:27:44 | YVR | buy | $6.270 | long |
2021-03-23 13:04:39 | YVR | sell | $6.010 | 0 |
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