Shared by
yoosh
This was a bearish retest Traditionally this means that it is going to retest previous day because yesterday was a red day meaning there was a lot of shorts in this and they will likely buy to cover which will make the stock go up, when is then you short the pop and ride it back down.
My exectution on this was poor because I chased. I should have waited for a proper retest up to previous levels before getting into this trade, instead it looks like I waited for a lower high and that is when I got in.
There was clear bottoming action for about 5 mins and that should have been a sign to take my profits but I did not and did not cut my losses. I then decided to but my loss RIGHT at the top (fucking sucks).
After this my trades were all over the place and I was revenge trading and it was just poor.
Something else to note is that this gapped into suppurt, so realistically there are heaps of people buying here and heaps of people selling as well so you need to let the stock pick a direction beefore trading it.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2021-12-15 09:37:12 | DEC17'21 95 PUT | buy | $2.890 | long |
| 2021-12-15 09:58:58 | DEC17'21 95 PUT | sell | $2.080 | 0 |
| 2021-12-15 10:00:05 | DEC17'21 95 PUT | buy | $2.420 | long |
| 2021-12-15 10:11:31 | DEC17'21 95 PUT | sell | $2.500 | 0 |
| 2021-12-15 10:15:32 | DEC17'21 95 PUT | buy | $2.470 | long |
| 2021-12-15 10:37:35 | DEC17'21 95 PUT | sell | $1.980 | 0 |
| 2021-12-15 10:38:19 | DEC17'21 95 PUT | buy | $2.100 | long |
| 2021-12-15 10:41:02 | DEC17'21 95 PUT | sell | $1.850 | 0 |
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