Shared by
srosas13
Mrna was showing strong momentum on the daily chart. It gapped up and continued to push higher. After a strong previous day the stock opened up relatively flat. This is a signal to bounce OR go long if that opening candle has the strenth and volume coming in.
The daily chart can be seen
On the hourly the stock was opening slightly below/at the demand zone. Once it clears that demand zone that is the signal to go long and use the low as the stock or abide by whatever the risk parameter is. The hourly view can be seen
The correct profit taking stratgy would have been to secure 50% at 1R, 25% at 2R and let higher highers and higher lows run from 330 my profit area until 335
As seen on the 5min display I tried to re-enter during the period of consolidation, this is a bad trade with low probability and low outlook this should be avoided at all cost.
VIX 20.89
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2021-07-20 09:32:52 | JUL23 21 320 CALL | buy | $14.950 | long |
| 2021-07-20 09:34:07 | JUL23 21 320 CALL | sell | $17.090 | long |
| 2021-07-20 09:34:23 | JUL23 21 320 CALL | sell | $15.150 | long |
| 2021-07-20 09:35:23 | JUL23 21 320 CALL | sell | $16.250 | long |
| 2021-07-20 09:36:21 | JUL23 21 320 CALL | sell | $17.800 | long |
| 2021-07-20 09:36:59 | JUL23 21 320 CALL | sell | $18.790 | 0 |
| 2021-07-20 10:08:55 | JUL23 21 330 CALL | buy | $15.350 | long |
| 2021-07-20 10:09:12 | JUL23 21 330 CALL | sell | $15.200 | 0 |
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