Shared by
MichaelBLe
Tags:
Daily: 20SMA Rejection
Daily: Rising Wedge
Entry: Ladder
Exit: Mechanical
Took this short after watching tape quickly recover the LOD of 99. I went short after the tape starting to fail to hold those gains. Going short only works in certain incidents, and with VIX rising today and making a potential higher low yesterday, I thought this was a good opportunity to short this stock.
VIX chart below.
8-27
6:47AM
Scaled up into this trade but no follow through. Tough tough market but I wasn't going to let this turn into a bigger loss. Took the position off for break even.
Execution detail:
| Date/time | Symbol | Qty | Price | Position |
|---|---|---|---|---|
| 2021-08-26 10:37:50 | Z | -100 | $99.410 | -100 |
| 2021-08-26 10:51:29 | Z | -50 | $98.563 | -150 |
| 2021-08-26 14:07:07 | Z | -50 | $97.950 | -200 |
| 2021-08-27 09:43:27 | Z | 100 | $98.850 | -100 |
| 2021-08-27 09:43:27 | Z | 100 | $98.850 | 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!