Shared by
jmos_BOWS
Play: ORB
Stock was extended on daily chart, so was short bias. When oil opened strong, it followed through, ran to previous HOD which is resistance, couldn't break, got short. Tried to cover some in first flush but didn't reach target, waited to see how the bounce would react. When it made a lower high, added more to position and then scaled out. Took some off at support in case oil was still strong, then at LOD and at green to red when it seemed to hold just to lock in profit. Then sold all when got extended and i still left money on the table but traded plan so that's aright.
Reasons to cover: support, LOD, green to red, extended
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2016-04-21 09:35:02 | VALE | sell | $6.230 | short |
| 2016-04-21 09:39:19 | VALE | sell | $6.170 | short |
| 2016-04-21 09:39:54 | VALE | buy | $6.130 | short |
| 2016-04-21 09:40:25 | VALE | buy | $6.100 | short |
| 2016-04-21 09:41:04 | VALE | buy | $6.080 | short |
| 2016-04-21 09:41:48 | VALE | buy | $6.020 | short |
| 2016-04-21 09:55:08 | VALE | buy | $5.960 | short |
| 2016-04-21 09:58:07 | VALE | buy | $5.900 | 0 |
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