daily chart was showing strength on this one. It broke out from a flag pattern the day before, so i was watching for a day 2 play.
It started pushing right at the open so i got long. I Had a stop around 48.
It ended up retesting the opening price level and held. It slowly grinded higher all morning from there.
I sold 1/2 my position around 50.5 since there was kind of a level there on the daily chart back in april and i thought it might hit some resistance here. It ended up pushing through that just fine. I also moved my stop loss up just under the 20ema and let the the trade keep grinding higher.
when it hit 51.5 i started getting nervous i would give too much back since it was trading well above the 9ema. so i moved my stop loss up to the low of each new candle. I figured being up this much and since it was getting later in the morning it would start to retrace back near vwap.I wanted to limit how much i gave back of unrealized gains.
I ended up getting stopped out by the single candle that broke the 9ema and then this thing pushed another $1.50!!! LOL sucks when that stuff happens but overall i captured the majority of the move. I did my job for the most part
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2021-10-18 09:33:28 | MARA | buy | $48.780 | long |
2021-10-18 10:15:14 | MARA | sell | $50.500 | long |
2021-10-18 10:45:32 | MARA | sell | $51.400 | 0 |
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