Shared by
smiyaki
WHY: Trending well on the daily, strong move made back over VWAP, wedge forming, building HL and long lower wicks under VWAP, shorts trapped.
HOW: On pullback from push over VWAP, started forming support around 13, so took a starter. Added half position on pullback to TL. Cut some due to weakness on the tape, added 50% more of position on pullback after it broke out of the wedge. Ended up selling 25% of that due to strong shorts on tape. Scaled out after break of 13.50.
WHAT: Overmanaged this trade immensely. Best entries are mapped out on the pictured chart. Best entries were towards the end of the formation of the wedge when the HL was formed on the 5min. Then again when it consolidated on lower volume after the wedge break. Traded a bit too cautiously on this one, next time stick to my levels for exits.
Risk: .21
RR: 5:1
Total R: 3R
Percentage of full size: 75%
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2021-11-01 09:49:51 | OCGN | buy | $12.760 | long |
| 2021-11-01 09:55:38 | OCGN | sell | $12.570 | 0 |
| 2021-11-01 10:29:32 | OCGN | buy | $12.980 | long |
| 2021-11-01 10:32:16 | OCGN | buy | $12.840 | long |
| 2021-11-01 11:04:18 | OCGN | sell | $12.830 | long |
| 2021-11-01 11:21:16 | OCGN | buy | $13.180 | long |
| 2021-11-01 11:33:36 | OCGN | sell | $13.230 | long |
| 2021-11-01 12:06:02 | OCGN | sell | $13.880 | long |
| 2021-11-01 12:10:15 | OCGN | sell | $14.320 | long |
| 2021-11-01 12:18:09 | OCGN | sell | $14.160 | 0 |
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