Shared by
BlackSwanTrading
- R4 Breakout, low volume R4 retest
- Entered long at an Avg cost of 39.65, after it retested R4 with low volume, and then threw a Doji holding R4 clearly.
- Placed my stop loss at 39.46 which was the low/wick of the previous candle. This gave me a 20 cent stop loss.
- There was a big seller sitting at $40 and when it reached 39.87 multiple big sellers hit the ASK so I decided to take off 50% which was just shy of taking profit at 2 to 1.
- It continued to have trouble approaching $40 so I took another 50% partial at 39.9 and then covered 100% at 39.93 when the L2 showed many big sell orders being filled.
- This definitely was a playbook trade "R4 Breakout and Retest" and I liked how I managed my risk and was able to recognize the price action combining the L2 to take profit and exit the trade before it fell soon after.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2021-06-08 10:25:08 | XPEV | buy | $39.650 | long |
| 2021-06-08 10:28:08 | XPEV | sell | $39.870 | long |
| 2021-06-08 10:30:43 | XPEV | sell | $39.910 | long |
| 2021-06-08 10:32:21 | XPEV | sell | $39.930 | 0 |
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