Main focus of the day.
Almost 2 months of sideways action in-front of $179 support, 9SMA@weekly playing catch-up and holding it down. Looked ready for the break-down and move lower.
Premarket plan was to get "short" only if it managed to break and hold below $179 support, expecting momo sell-off to $172 (ATR=7.5, so $172 on deck).
Traded plan. Avoided 1st-hr chop, and when it broke $179 on increasing volume,
Got short filler size at the retracement to $179, added Tier 0 after 1st brutal rejection of the level, and pushed short with momo tier once it tried to clear lows, risking above VWAP for core and above support pivot=$179 for the momo add.
Had to take out the momo add once it reversed, reclaimed $179 and pushed to VWAP.
Held core respecting original stop above VWAP. Got lucky, stop never triggered, PYPL rolled-over back below $179.
Re-added momo tier, stop for whole size the lower high at VWAP $179.6s
Got the 1st half of the expected move, covered 1/3 in-front of $176, held remaining 2/3 with same stop, wanting to see a) $172 or b) weak close, and I would swing it overnight.
Neither happened so I covered at the close.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2022-01-14 10:41:10 | PYPL | sell | $178.890 | short |
2022-01-14 10:41:10 | PYPL | sell | $178.890 | short |
2022-01-14 10:59:16 | PYPL | sell | $178.600 | short |
2022-01-14 11:03:17 | PYPL | sell | $178.140 | short |
2022-01-14 11:40:00 | PYPL | buy | $179.140 | short |
2022-01-14 12:00:16 | PYPL | sell | $178.300 | short |
2022-01-14 13:04:39 | PYPL | buy | $176.280 | short |
2022-01-14 16:00:13 | PYPL | buy | $178.460 | 0 |
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