GEVO Trade on Sep 9, 2021 10:01 from Trader_John: Tradervue User Stock Trades.

Gravatar

Shared by
Trader_John

 

GEVO had a lot of momentum this morning and a decent daily chart. After the first breakout this morning there was a nice consolidation period around 10:00 AM.

I ended up getting into the trade with an upward trend continuation strategy as it checked all of the boxes.

  • Only trade 1st, 2nd, or 3rd continuation of a clear bull flag or ABCD move with volume (Start of C leg - buy shares building towards C leg)
  • Trends occur through VWAP or above it
  • Verify Volume (seriously if it's low leave it alone)
  • Wait for B to C consolidation against key metric if available OR obvious sign of resistance: Check level 2 to see if there is a heavy resistance level (heavy seller stack, but asks getting filled instead) OR double or triple bottom OR play off a hammer doji if available

At observation it was the 3rd continuation on the 1 minute chart so I felt I needed to tread carefully. I set my stop at 6.95 at roughly the 61% mark because I was able to get in around 7.09. I had been doing other things so I didn't get much of a chance to find any target levels. I ran with the straight 1:3, 1:5, and 1:7 exit strategy.

Here is the trade plan:
image

Once I entered I switched to the 5 min candles to avoid the noise. Stops were set and I let it run.

I set an alert for 7.55 for my first exit. Soon after I saw that it was consolidating sharply at 7.36 and looked like a sharp reversal at 7.45. Given the volatility I exited 1/3 at after the first leg consolidation. Then after the next rip to 7.45 the 5 minute candle was getting spooky so I then exited the two thirds a tad ways what looked like a reversal. Price movement was so quick I didn't get prefect exits but hey, profit is profit.

Risk minimized. It ended up running further, but hindsight is always 20/20.

image


Execution detail:

Date/time Symbol Side Price Position
2021-09-09 10:01:33 GEVO buy $7.090 long
2021-09-09 10:01:34 GEVO buy $7.090 long
2021-09-09 10:11:32 GEVO sell $7.280 long
2021-09-09 10:14:13 GEVO sell $7.320 long
2021-09-09 10:14:13 GEVO sell $7.320 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!

View plans, Sign up for free, or Log in