DLTR Trade on May 28, 2021 10:05 from GeoJosh: Tradervue User Stock Trades.

Gravatar

Shared by
GeoJosh

 

What was happening in the market
Full Year Guidance Disappoints despite Dollar Tree Tops Fiscal First-Quarter Expectations
What was the set-up
Dollar has been Trending down since May 11 and broke through a range on May 12 with daily steady declines. However, there was a PB to 108.63 on May 26 but it never quite broke the high of May 24 of 109.34 (i.e.0.65% below).
With this negative new catalyst, by bias was seeking short opportunity on a intraday PB. A perfect Trending and Quiet

How did I trade it
I went short on the first green small body candle after a series on red candles.
By combining this green bullish range candle with the previous high bearish candle, my analysis was a strong bearish sentiment and therefore went short without hesitation.

Learning Opportunity
With such perfect setup, quiet and trending, I should have added size . At least 1000 shares more and this would have made my entire week. The risk was quite low. The market trended down until market close and continue beyond close. Will be adding the set-up to my Playbook


Execution detail:

Date/time Symbol Side Price Position
2021-05-28 10:05:21 DLTR sell $99.310 short
2021-05-28 16:01:04 DLTR buy $97.500 0


Leave a comment about this trade!

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!

View plans, Sign up for free, or Log in