NIO Trade on May 17, 2021 10:02 from JRockTrades: Tradervue User Stock Trades.


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OGT Technical Level VWAP

NIO seemed to be rangebound on this day, not trending to the upside or the downside. As such, the best trades would be to buy the bottom of the range or sell the top.

I had previously tried buying NIO against VWAP, but that trade got stopped out. There were no trades until NIO pulled into the opening drive low. I bought here risking dropping the opening low.

My plan was to sell 30% into VWAP, 30% against a previous wick high, 30% against the $34 level, and hold the remainder for a move higher or to be stopped out. This plan just straight worked. Since the plan was formed when I took the trade, it took a lot of emotion out of it and I was able to hold until my targets. I intended to hold the last 10% for an extended move, but I had to deal with real life things and closed the trade very near the highs. I did feel an extended move past $34 was very unlikely because that is longer term resistance and it didn't seem like NIO had the energy on this day to break above that level and hold.

Pretty much this trade worked 100% to plan and it was easy to hold for the entire move while securing profits at intermediate targets. If I can make every trade like this, I'll be good.

Execution detail:

Date/time Symbol Qty Price Position
2021-05-17 10:02:44 NIO 100 $32.926 100
2021-05-17 10:12:04 NIO -30 $33.420 70
2021-05-17 10:20:22 NIO -30 $33.700 40
2021-05-17 10:36:09 NIO -30 $33.970 10
2021-05-17 10:47:42 NIO -10 $34.052 0

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