Rally into a massive previous daily support level R1=$26, with many longs bagholding from wayy higher prices. 1st retest of that level would be a good "fade".
Premarket plan was to get "short" the opening pop to R1=$26, expecting a brutal rejection there, loss of VWAP and S1=premarket low=$25.4, and a move towards S2=$24.5s.
Played ok. Opened strong and pushed thru R1.
Got short filler size at R1=$26, risking a bit wide stop $27s, added Tier 0 once it failed to hold above the level and rolled over below, tightening stop to HOD=$26.5, wanting to add more thru S1 break for the move to S2.
S1=premarket low=opening print=LOD=$25.4 got tested, FUBO bounced back to R1, got rejected and sold-off quickly to S2=$24.5 and then....lower.
Covered small in-front of $25 whole number, bulk at S2 target, got flat at the flush below $24.
(-) Not happy with overall trade execution as I could have played it better:
-- Cover some size into 1st S1=$25.4 test
-- Reload at the bounce to and rejecetion to the penny of R1=$26
-- No add thru S1 break as it didn't give a clear, well-defined short opportunity
-- Cover per plan
-- Watch closely in the afternoon as it triple-rejected S2=$24.5, short one of the pops to S2, risk tight above S2, cover at the afternoon sell-off.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2021-05-28 09:32:32 | FUBO | sell | $25.850 | short |
2021-05-28 09:43:50 | FUBO | sell | $25.860 | short |
2021-05-28 10:24:47 | FUBO | buy | $25.060 | short |
2021-05-28 10:52:50 | FUBO | buy | $24.560 | short |
2021-05-28 11:45:26 | FUBO | buy | $24.070 | short |
2021-05-28 12:05:01 | FUBO | buy | $24.227 | 0 |
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