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NIO was very strong yesterday, stretching past an ATR. I was looking for follow through today, so my initial trade was long looking for a dip and rip. That trade got stopped out an NIO began to look like a really good short. On the previous 5 minute bar, it had wicked slightly under VWAP before making a new low. I placed bids in a similar spot just below VWAP and they got hit. It was a real sniper entry as price only went 1 penny higher before reversing. The trade started working right away and I was able to cover at increasing profit targets. I held the remainder for the day to see if it would push lower, but that never materialized. There is no catalyst one way or the other, so I didn't want to do an overnight swing and closed my position shortly after the close of trading.
Execution detail:
I let this go as soon as this didn't hold PDC (previous day close)... Your entries are boom tho.
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too much commission bro