Double top setup. A small double top setup on 1 min chart. Sell short at neck line 257.5 level. Stock did re-test a little bit, but I guess everyone saw it so pushed down through the neck line easily. Scale out and close the position.
What I did Right: Waited for the double top pattern to form before entering the trade. Scale out. The final exit was close to VWAP which was my target.
What I did Wrong: First re-test can add to the position.
Where I could improve: I think I do this trade right.
Trade grade: A
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2022-07-05 11:59:59 | MSFT | sell | $257.390 | short |
2022-07-05 12:04:08 | MSFT | buy | $256.950 | short |
2022-07-05 12:04:48 | MSFT | buy | $256.688 | 0 |
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