This was one of my top watches premarket. It was gapping up with NFT related news so I knew this would have volatility due to the recent craze in the NFT sector. After it sold off in the morning I kept my eye on it because I knew there could be enough buying volume to bring it back. Not only did it come back, but it formed a wedge pattern which was my cue to get in. Initially, I was gonna wait for a larger wedge to form, but I saw the smaller one that had clear levels on the 5 minute chart. I got in around the lower trendline. I sold a quarter as it broke above the 4.75 pivot high to reduce my exposure and lock in a small profit cushion. I then sold the rest just under 5 dollars, which I am glad I did because the price ended up faking out above 5 and selling off only a few minutes after I sold it. Overall, really solid trade that was a nice way to end the month.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2021-03-31 10:58:32 | YVR | buy | $4.540 | long |
2021-03-31 11:02:48 | YVR | sell | $4.790 | long |
2021-03-31 11:23:08 | YVR | sell | $4.980 | 0 |
text book!
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Nice trade, congrats! 👍