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Took this trade as a double bottom type in a channel. Only took a small position in this name. Probably won't add into it until there is better sign of market bounce. VIX is elevated and it's not a good time to get overly aggressive.
On the weekly chart, we had 2 large selling candles which raises the yellow flag for me. We closed off the bottom of the channel but there is still a high chance of the market condition being out of favor for awhile. Will keep my position small.
Execution detail:
Date/time | Symbol | Qty | Price | Position |
---|---|---|---|---|
2021-07-19 09:45:11 | RVLV | 100 | $64.320 | 100 |
2021-07-19 13:34:38 | RVLV | -100 | $64.784 | 0 |
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