Broke S1=major long-term (since IPO) support level=$215 ON VOLUME yesterday and sold-off printing ATLs to $190s.
Gapped higher premarket along with QQQs after jobs report (what a joke). Premarket plan was to get "short" at the opening pop to R1=$215 expecting "trapped" longs above R1 to trim/cut positions.
Opened strong, rallied to R1=$215 and I played the "Technical Reversal on the 15min chart" nicely:
-- Got short Tier 0 size after 15min hanging man candle was put in-front of R1, risking tight stop above R1 $216s, added after EMAs@1min chart crossed each other confirming change in momentum, risking same stop, expecting loss of VWAP and move towards opening print.
-- Added one momo tier after lower high, risking the lower high, expecting VWAP loss.
Stopped out of the add as it tried to squeeze before rolling over.
(-) Slow reaction, and didn't add the size back once the pop was met with a brutal rejection, bringing price back within downtrend.
Broke VWAP and slowly bled all day.
Covered most close to opening print, held tiny size as swing short, target $200s, stop $215.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2021-05-07 10:30:36 | SNOW | sell | $213.700 | short |
2021-05-07 10:52:02 | SNOW | sell | $212.820 | short |
2021-05-07 11:33:26 | SNOW | sell | $211.790 | short |
2021-05-07 11:58:43 | SNOW | buy | $213.610 | short |
2021-05-07 13:24:27 | SNOW | buy | $208.110 | short |
2021-05-07 14:01:06 | SNOW | buy | $206.310 | short |
2021-05-10 09:31:08 | SNOW | buy | $201.200 | 0 |
You need to log into your Tradervue account to leave a comment. If you don't have one,
it takes
just a few seconds to sign up, and it's free!