Shared by
JohnnyMac
Summary
Had in mind that this could turn into a big squeeze. First day back trading had me cautious and ready to take profits.
Setup/Edge/Strategy
ABCD pattern and false breakdown.
Did Right
A+++ entry. Had it on radar to keep watch and see if it rallied back to vwap. As vwap held I went long.
Did Wrong
Took profits waay too early. I need to be willing to just stop out when the trade has a bigger picture potential. Granted, the price action stalled at the premarket highs and I didn't feel like giving back. In hindsight, should have left half shares on and traded the moving averages for exit.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2021-07-21 09:55:50 | CEMI | buy | $4.140 | long |
| 2021-07-21 09:56:02 | CEMI | buy | $4.180 | long |
| 2021-07-21 10:06:04 | CEMI | sell | $4.680 | long |
| 2021-07-21 10:07:05 | CEMI | sell | $4.700 | long |
| 2021-07-21 10:09:29 | CEMI | sell | $4.690 | long |
| 2021-07-21 10:11:37 | CEMI | sell | $4.710 | 0 |
Leave a comment about this trade!
You need to log into your Tradervue account to leave a comment. If you don't have one,
it takes
just a few seconds to sign up, and it's free!