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Apr 7, 2021 13:36


I wanted to be in and out of this ticker very quickly because the daily chart is terrible and there is no fundamental catalyst, but the intraday price action and the insane volume this thing was showing presented scalp opportunities. This thing formed a wedge pattern after its zombie move with multiple 5 minute candles soaking right on the lower trendline. Usually I would enter a stock all at once full size, but I realized today that entering with a third of a position at a time allows me to be more flexible with my average while mitigating risk if the trade does not prove itself. My second entry was pretty sloppy but my third entry was pretty nice as I entered right after another 5 minute candle closed above the trendline. This stock was pretty choppy and there was obvious manipulation going on, especially since there was no fundamental catalyst behind the volatility. Therefore, I had a really conservative target below the pivot high under the 6 dollar psychological resistance point.

Execution detail:

Date/time Symbol Side Price Position
2021-04-07 13:36:43 SOS buy $5.770 long
2021-04-07 13:39:45 SOS buy $5.810 long
2021-04-07 13:45:20 SOS buy $5.738 long
2021-04-07 14:03:05 SOS sell $5.940 0


2021-04-07 15:43:17

Thanks for the detailed summary. Always a pleasure to get insight into how other traders are approaching a setup. Nice exit man.

2021-04-07 16:07:12

Thanks man. I've been having trouble lately following my plan, but when I do manage to keep my emotions in check and execute objectively I can get pretty decent executions.

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