IRNT Trade on Feb 24, 2022 11:59 from BanalityOfEvil: Tradervue User Stock Trades.

Intraday Sympathy Trend Trade DAY 1

Trade Idea
IRNT will reach long term resistance by end of day

Catalyst
cybersecurity stocks are trending given fear of attack by russia

Setup Quality
A

Big Picture
markets are weak, but Spy is bouncing off of long term support @ 400
Putin attacked Ukraine late last night
VIX over 30
IRNT and other cybersecurity related stocks are trending midday
mid float 34M
ATR .50

Plan
enter as price makes a new intraday high for a break of $5, sell 1/2 at R1, sell 1/2 @ R2, hold small size for move to R3 $6.24 or higher

Executions

Did not catch this until late in the day

bought just below long term resistance/psychological level for a break of R1 and a move to R2

sold 1/2 at R1

decided to hold 1/2 overnight as stock has closed higher on the day and over the key long term $5 level. Stock is showing some continuation in after hours.

Use tomorrows core to position for continuation to R3, size up if possible, and sell at least 80% by the end of day

Key Takeaways
get bigger in plays like this when the market is stronger

IRNT 2ND DAY TREND SWING - DAY 2

CATALYST
Cybersecurity stocks are trending, driven by the conflict in Ukraine

TRADE IDEA
IRNT will reach $7 or higher today and possibly continue up to $9 next week

SETUP QUALITY
A
BIG PICTURE
SPY is holding yesterdays close and edging higher in premarket
VIX 28
IRNT and other cybersecurity related stocks are trending
mid float 34M
ATR .50

PLAN
Use core to build into position after the open. Sell ½ position into strength and hold ½ for a move up to 7 or higher. Be mindful of breaking news regarding Ukraine and cyberthreats as this will directly affect price action. Price AVG is 4.89. Stop is $5, 1st target is $6.25, $6.50, $7.

EXECUTIONS AND PRICE ACTION
Added for a break of premarket pivot with plan to take profit at yesterday’s high.

Took some profit at 1st target then added back when VWAP was reclaimed with volume expansion

Took some profit at 6.25

Price moved to target, but news was breaking of NVDA cyberattack so I held, thinking it would drive the price higher and I was excited by the absence of HFT so I held tight.

Key intraday level @ 6.50 broken as some HFT appeared on the tape and volume dried up in the afternoon. Looked like the backside of the move was setting up so I went flat.

KEY TAKEAWAYS
Great job finding this early and holding this overnight for this move today. In the future get bigger in plays like this.

HFT’s were generally throttled back today as could be seen on the T&S. The volume leaders moved so cleanly… this further confirms that when heavy algo presence is detected then it is best to just avoid the symbol if scalping. Great to see this price action across penny stocks, low caps, and large cap stocks today.

DAY 1

DAY 2