Shared by
SpecTraderJMC
What a flush. Should have left this alone. Thought we'd get a small bounce over $10.50. Just kept trending down.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2021-06-21 09:42:25 | TRCH | buy | $9.570 | long |
| 2021-06-21 09:43:47 | TRCH | sell | $9.620 | 0 |
| 2021-06-21 09:54:32 | TRCH | buy | $10.380 | long |
| 2021-06-21 09:54:43 | TRCH | buy | $10.280 | long |
| 2021-06-21 09:59:08 | TRCH | sell | $9.805 | 0 |
Comments
SpecTraderJMC
Exactly, there was no support. Impulsive trade. With the type of trade I was going for you can't wait for obvious support. Look at that bearish 5 minute candle. This isn't a stock I would normally trade (Higher float, institutional owned/transactions), but it was the main stock in play today and wanted to take at least one trade on it. Hence the small size. A better entry would have been around $10. Once it broke 10 I tried to get out on the ask just under 10. Then cut the loss as it kept selling off.
Ar49
I got in at 9 when the stock confirmed it was holding the opening price multiple times. to me it showed bulls were interested and were overpowering the bears at that opening price. I sold some into 9.30 and the rest at HOD should've held a piece but wasn't patient enough.
Nice trade. Guess you took a partial at $9.30 because it was VWAP? Over VWAP my next target would have been just below $10. I watched TRCH last week and didn't like the price action. It was better today (i.e. more volatility). Bigger swings, less grinding. I don't like these institutional owned/transacted higher float stocks. There tends to choppy algo manipulation and random flushes.
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try to get in closer to support man, try to avoid chasing stocks especially big gappers at the open breaking HOD. but good job cutting loses