Shared by
HelloMrMotto
Intraday
There was a huge gap down on SPY the day before this trade. As soon as the opening bell rang all gaps were filled with the run-up.
Why did you take the trade?
I took this trade at 11:44 am after deciding to log off after closing out on UBER.
The pattern showed up for its cracking support after being rejected by the second resistance.
How did the trade go?
The trade was awesome. It was the perfect entry. I saw that it couldn't hold above the .50 mark and I waited for it to break the support which it did.
I went in on 200 shares and added another 50 because I thought it was going to drop a little bit more.
I saw the bounce and it held around the 108.80s strongly so I decided to have an exit plan which was in the 109.30s.
What can you do better in the future?
N/A
What did you do great?
Followed my plan
Watched the level 2. Saw that it could not hold up so I took profits off the table
Grade: A+
Why that grade?
Followed all rules
Collected profits
Saw the pattern
Let the pattern build
Made entry
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2022-06-22 11:44:05 | AMZN | sell | $110.025 | short |
| 2022-06-22 11:59:52 | AMZN | sell | $109.100 | short |
| 2022-06-22 12:00:32 | AMZN | buy | $109.325 | 0 |
Comments
HelloMrMotto
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Outstanding trade, this was textbook! I hope I can continue to develop and grow to where you are.