Nasty failed break-out above $400, back into the 1yr trading range/channel $322-400. I was stalking the $400 backtest, as trapped buyers who paid $400+ probably would have to trim exposure at b/e or small loss.
-- Offer in-front of $400 never got filled, FOMOed in Tier 0 size next day as it opened right below the level and instantly got sold, risking 1xATR=$14 above the resistance $413s
-- Liked the overall setup so much that I decided to add another Tier 0 at the bear-flag below VWAP, risking stop above $400 for that lot
-- expecting sharp move away from $400 and into $365s
-- 1st target $365, then bottom of trading range at $322
05-20-2022
-15% day after ER (which wasn's so bad actually, but it is a bear market after all) and even traded < $310s. What a magnificent trade that is:)
-- Can we get a bounce to bottom of previous 1-yr trading range/channel=$322-335 area?? Maybe I can reload some short there, if seller steps down and $DE starts rejecting price. Many trapped longs at higher prices $335+ on this one....
05-23-2022
-- Reloaded small size short in-front of $335 resistance area, tightening stop for whole size to $350s
-- Expecting sellers to protect the gap-down, and $DE to roll-over back to low $300s
05-27-2022
Stopped out per plan...Market bid, $DE went way further than expected. Gave small back.
Good overall trade.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2022-05-05 09:43:57 | DE | sell | $391.510 | short |
2022-05-05 15:04:23 | DE | sell | $382.570 | short |
2022-05-09 10:46:20 | DE | buy | $367.110 | short |
2022-05-20 08:01:42 | DE | buy | $342.170 | short |
2022-05-20 09:36:03 | DE | buy | $336.040 | short |
2022-05-20 09:53:29 | DE | buy | $330.220 | short |
2022-05-20 10:03:34 | DE | buy | $327.320 | short |
2022-05-20 10:55:49 | DE | buy | $322.260 | short |
2022-05-20 14:32:54 | DE | buy | $309.625 | short |
2022-05-23 10:40:45 | DE | sell | $333.620 | short |
2022-05-24 12:21:16 | DE | sell | $333.590 | short |
2022-05-26 09:54:08 | DE | sell | $342.340 | short |
2022-05-27 09:30:01 | DE | buy | $353.769 | 0 |
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