-25% out of nowhere, in a blink of an eye for the strongest sector out there, and the only one still above
The velocity of the move and the over-extention from even from 9SMA@daily, justified the "long" attempt. I was looking to get involved in two main areas of interest:
a) $70-71=previous support pivot
b) $67-68=previous support pivot=confluence of major SMAs -> 200SMA@daily & 9SMA@monthly
We got to a), so:
-- Got long Tier 0, risking 50% tight stop below $69s, rest 50% below $66, which is lower than 2nd ara of interest
-- Want to take the quick 50% loss if it wants to go lower and be able to re-establish full size close to $67-68 which is a more significant support level.
-- Looking for buyers to come in, and $XLE start holding above $71
-- 1st target $76-77 area, main target $79
06-28-2022
This played out wayyy better than expected.
Already into 1st target $76-77 area. Sold small on the way there, missed the $77 sell.
Above $77, there is nothing until main target $79-80 zone.
07-01-2022
Back into $70-71s
-- Re-loaded small in-front of $71, bought what I have previously sold $73+ into $70 opening flush, stop for entire position below $69s
-- Buyer became evident in-front of $70s, defending the level. $XLE closed at HOD=$73s
-- Thru $73, next resistance is $77, then $79-80 area. $79-80 zone remains main target for this trade.
07-05-2022
Flat per plan...Extreme reversal pre-market + lost $70...It looks like it wants to tag 200SMA@daily=$67s. Will re-evaluate lower. Want exposure
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2022-06-23 11:23:43 | XLE | buy | $71.225 | long |
2022-06-23 13:07:10 | XLE | buy | $69.795 | long |
2022-06-23 15:33:41 | XLE | buy | $70.875 | long |
2022-06-24 10:30:52 | XLE | sell | $72.605 | long |
2022-06-27 10:04:18 | XLE | sell | $73.760 | long |
2022-06-27 19:24:19 | XLE | sell | $74.380 | long |
2022-06-28 07:00:00 | XLE | sell | $75.050 | long |
2022-06-28 07:26:01 | XLE | sell | $75.440 | long |
2022-06-29 08:55:06 | XLE | sell | $76.840 | long |
2022-06-30 15:02:35 | XLE | buy | $71.295 | long |
2022-07-01 10:47:52 | XLE | buy | $70.435 | long |
2022-07-01 13:30:26 | XLE | sell | $71.755 | long |
2022-07-05 10:06:06 | XLE | sell | $69.830 | long |
2022-07-05 10:58:30 | XLE | sell | $68.925 | 0 |
You need to log into your Tradervue account to leave a comment. If you don't have one,
it takes
just a few seconds to sign up, and it's free!