Shared by
_dynomike
Initial Entry was good. Didn't get to full size before it dropped so on the initial rebound/vwap reclaim #1, I added again risking the double top.
Again, it probably would've been best to have confirmation that the double top held before adding to position.
Noticed on the tape after final add that the 6.8-6.9 area had strong support.
After reclaiming VWAP for the third time, I covered the entire position for a small gain.
As shown in the chart, it then retested initial high which lead to a breakout.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2021-06-10 09:46:29 | MEDS | sell | $7.000 | short |
| 2021-06-10 10:04:25 | MEDS | sell | $7.200 | short |
| 2021-06-10 10:13:03 | MEDS | sell | $7.000 | short |
| 2021-06-10 10:13:04 | MEDS | sell | $7.000 | short |
| 2021-06-10 10:44:06 | MEDS | buy | $6.930 | short |
| 2021-06-10 10:44:06 | MEDS | buy | $6.930 | short |
| 2021-06-10 10:44:06 | MEDS | buy | $6.940 | short |
| 2021-06-10 10:44:06 | MEDS | buy | $6.949 | short |
| 2021-06-10 10:44:06 | MEDS | buy | $6.949 | 0 |
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