Shared by
spyrosz
Lost S1=major daily support pivot=$46.3 and both 9/20SMA@daily premarket. Remained weak premarket, failing to remount S1.
Premarket plan was to get "short" the opening pop to S1=$46.3, expecting trapped longs to unwind/trim exposure, a hard rejection at the level and a sell-off to S2=$45.5.
Played exactly per plan. Popped to S1 at the open,
got short Tier 0, risking stop above R1 $46.5s, added another tier once it failed to remount VWAP and put a lower high, tightening stop to HOD for the whole size, then added one momo tier for the break of LOD=$46.1, risking VWAP for the add, expecting move to S2.
Covered bulk close to target. Tried to re-establish some size after bounce above VWAP, risking the desc. 9EMA@15min chart, thinking a lower high and retest of S2/LOD.
Took the stop per plan.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2021-06-09 09:30:20 | WFC | sell | $46.290 | short |
| 2021-06-09 09:35:04 | WFC | sell | $46.140 | short |
| 2021-06-09 09:38:31 | WFC | sell | $46.085 | short |
| 2021-06-09 09:55:36 | WFC | buy | $45.725 | short |
| 2021-06-09 10:10:28 | WFC | sell | $46.050 | short |
| 2021-06-09 10:58:33 | WFC | buy | $46.130 | 0 |
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