ETSY Trade on Sep 17, 2021 09:32 from spyrosz: Tradervue User Stock Trades.

Rallied from $175 back to R1=top of long-term channel=major daily/weekly inflection point=$227. 1st test of upper channel boundary since 04/2021 and ER gap-down. Not as extended I would like in daily/weekly charts, but worth a shot to the short.

Premarket plan was to get "short" at the opening pop to R1=$227, expecting a brutal rejection there, roll-over and VWAP loss for the move back to S1=opening print=223.6 at a minimum. Then, if continued weakness possible move to S2=$221.

Very difficult trader, choppy with wide spreads. Had to be careful here, small size, risk wide until price got tighter. Opened strong and popped right into R1 out of the gates.

Got short filler in-front of R1, risking wide stop 230s, added Tier 0 once it got rejected and rolled-over back below R1, tightening stop to HOD for the whole size, expecting to lose VWAP and move to S1.

Trade didn't work as planned. Not only ETSY held above VWAP, but held prices below R1 very well and started creeping higher, showing extreme relative strength vs overall market that was getting hit at the time. Sat tight, respected stop at HOD.

Got stuffed below $228, couldn't break higher, rolled over below R1=$227, feeble VWAP bounce and R1 rejection to the penny + market accelerating to the downside, gave me some more confidence on the trade here.

Added another half-tier at the lower high, risking $228 for the add, one momo tier thru VWAP loss, risking the m.average for the add, expecting S1=$223.6.

Covered momo tier at quick flush, re-added at VWAP pop, stop VWAP for the add, targeting S1.

Covered small on the way to target, bulk at target. Stopped out of small trailer as it reclaimed 9SMA@15/30min charts.

(+) Excellent patience and proper sizing while thesis wasn't working per plan that allowed me to stay comfortably with it, then aggressive adds once it started playing out.