PTON was in a daily, weekly, and monthly downtrend. Bears seemed exhausted yesterday and after a huge bull move up this morning I immediately started thinking that shorts may start being forced to cover which would lead to a gap fill.
Markets were generally sideways as daily bull flags shape up.
This instrument was in a breakout as it had just broken out of its downtrend line.
When I got in purple line on the 10 minute was playing D.
Pros:
1. Put the second half of the position on in a great spot.
2. Sold half of the position for a gain to drop your average.
3. Great trade idea! You picked something that had a lot of room to run.
4. Not going at it alone.
Grows:
1. LET THE WINNER RUN!!!
1A. You had locked in gains to increase your account by 3+ percent already. Risk reward was to the upside. You should have just set a stop on the trade at break even and walked away.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2021-11-16 10:20:42 | 19 NOV 21 51.5 CALL | buy | $0.8000 | long |
2021-11-16 10:27:19 | 19 NOV 21 51.5 CALL | buy | $0.6200 | long |
2021-11-16 10:32:12 | 19 NOV 21 51.5 CALL | sell | $0.7300 | long |
2021-11-16 10:36:51 | 19 NOV 21 51.5 CALL | sell | $1.020 | long |
2021-11-16 10:47:21 | 19 NOV 21 51.5 CALL | sell | $1.260 | 0 |
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NIce trade