Shared by
spyrosz
Alert hit when it approached R1=major daily support level=9SMA@weekly=$76, with many longs trapped above, bag-holding from higher prices. 1st backtest of that level was major short opportunity!
Got short filler size at the pop to R1=$76, risking $77 stop, waiting for the "Technical Reversal on the 15min" chart to form in order to add more.
Failed to hold above R1, saw the lower high, 15/30min candles start looking like "shooting stars", and as EMAs@1min chart crossed each other (-) I should have been all over it, hitting the bid to get the fills, instead of trying to get fill at the offer. I should have been aggressive in an A+ setup instead of thinking about cents!! BAD TRADING HERE!
Left with filler size, and tried to make most of it. Covered small in-front of VWAP and at the flush lower, bulk below $74.
Held some as swing short, thinking it might pullback a bit more towards $72-73 area.
(-) Major fail here. Trade deserved 100% attention, and to be aggressive..Hit the backside.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2021-05-26 12:05:21 | CHWY | sell | $75.890 | short |
| 2021-05-26 12:32:28 | CHWY | buy | $75.000 | short |
| 2021-05-26 12:38:12 | CHWY | buy | $74.650 | short |
| 2021-05-26 12:57:23 | CHWY | buy | $73.810 | short |
| 2021-05-27 09:32:22 | CHWY | buy | $73.110 | short |
| 2021-05-27 09:55:42 | CHWY | buy | $74.150 | 0 |
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