WAs looking for a squeeze continuation after it failed to go more red after yesterdays FRD.
Didnt take the RG move b/c I wasnt anticipating a squeeze.
However, when it started forming a structure, I got in.
Missed ideal sells b/c of work meetings.
Got stopped out at the end.
Ended up missing the afternoon squeeze again b/c I was so tilted I missed AERC by seconds that i turned off my software hehe.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2022-06-24 09:50:00 | REV | buy | $7.736 | long |
2022-06-24 09:53:00 | REV | sell | $8.225 | long |
2022-06-24 09:55:00 | REV | sell | $8.191 | long |
2022-06-24 10:24:00 | REV | sell | $7.790 | 0 |
Thanks!
So I was watching and trading this for days as part of the framework.
With 06/23 being the FRD, I was expecting it to go lower. However, looking at PM on 06/24, it failed to make a lower low. It ended up spiking right out the open and tested RG.
I was still not convinced when it went green. However, it started holding near the highs near key inflection lines, I started liking it.
When It broke out the trendline which was very close to the HOD break, I was convinced shorts were trapped and there was be a mini squeeze. Volume started to come in too which helped.
It was mainly the chart and drawing support/resistance/trend lines prior to entering. L2 was more of confirmation with this trade.
Awesome I like hearing the run down from you. I've also been trading REV the past few days and Friday. Friday I wasn't as profitable as I should have been though. Good stuff
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Nice trade! Wondering your thought process on this for your entry? Was it just a breakout of the HOD with volume? Or was it something you saw in the lvl 2