WLL was parabolic and had a bounce off resistance previous day. I was anticipating a second day follow through so got in with full size when price broke down through the VWAP. This is NOT a goto setup and a bit of a gamble. I can take these trades, but should have been with less risk. Got lucky this time.
Turned out to be an incorrect thesis as the oil market rallied right after the initial pullback.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2016-03-09 09:38:31 | WLL | sell | $7.460 | short |
2016-03-09 09:38:33 | WLL | sell | $7.463 | short |
2016-03-09 09:44:44 | WLL | buy | $7.360 | short |
2016-03-09 09:46:49 | WLL | buy | $7.240 | short |
2016-03-09 10:00:27 | WLL | buy | $7.459 | 0 |
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