Shared by
dpaleo
Tags:
great idea shorting the laggard with mkt up into potential resistance and TSLA into vwap.
Execution detail:
| Date/time | Symbol | Qty | Price | Position |
|---|---|---|---|---|
| 2022-08-25 10:25:14 | TSLA | -200 | $297.800 | -200 |
| 2022-08-25 10:26:46 | TSLA | -112 | $297.350 | -312 |
| 2022-08-25 10:27:01 | TSLA | -188 | $297.380 | -500 |
| 2022-08-25 10:31:25 | TSLA | -170 | $297.600 | -670 |
| 2022-08-25 10:49:42 | TSLA | 170 | $295.370 | -500 |
| 2022-08-25 10:54:26 | TSLA | 25 | $294.600 | -475 |
| 2022-08-25 10:54:33 | TSLA | 100 | $294.280 | -375 |
| 2022-08-25 11:04:59 | TSLA | 50 | $293.620 | -325 |
| 2022-08-25 11:07:33 | TSLA | 25 | $293.300 | -300 |
| 2022-08-25 11:08:16 | TSLA | 50 | $292.750 | -250 |
| 2022-08-25 11:09:15 | TSLA | 50 | $292.940 | -200 |
| 2022-08-25 11:14:58 | TSLA | 50 | $292.050 | -150 |
| 2022-08-25 11:15:15 | TSLA | 50 | $292.230 | -100 |
| 2022-08-25 11:19:53 | TSLA | 6 | $292.810 | -94 |
| 2022-08-25 11:19:53 | TSLA | 6 | $292.820 | -88 |
| 2022-08-25 11:19:53 | TSLA | 84 | $292.840 | -4 |
| 2022-08-25 11:19:53 | TSLA | 4 | $292.850 | 0 |
Comments
dpaleo
Hey Andy, your exactly right - my resistance level on SPX was 4180ish and it got just above and kinda stuck there for a bit so I wanted to leave some wiggle room in my TSLA entry in case there was a vwap remount fail scenario. SPX didnt end up rejecting that area until about 10:50 but TSLA gave me confirmation of vwap resistance on the 10:31 1min bar so thats when I got up to full size.
AndyBhanver3
Thanks paleo! How much room were you thinking of giving this, I know you said giving it some room for a vwap remount fail, were you thinking of covering your short position if we had for example one or two - 1 minute candle closes over vwap? Was that enough to get you out of this trade, or was it going to be if we had broke above the prior candle bar high on your first entry that we wicked from because you practically had a spot on entry here off that wick rejection so were you thinking off stopping out over that prior bar high or a few candles over vwap?
i believe i had a partial stop 298.51 which i made a full stop after last add and 10:32 1min bar. Not 100% sure if that was exact price but close to there so not much more room over vwap. Yea something like two 1min bars above would prolly suggest defense.
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Hey dpaleo! Nice catch, I saw the same relative weakness here with markets coming into potential resistance, I'm curious why you did not get full size around the vwap? I'm thinking you decided to take a starter position to see if markets would find resistance here and then added to your position as you started to see tesla reject here around vwap more and as the trade started to get a bit more of confirmation as we started to move sideways instead of continuing up, my question is - Was it your plan to kind of build a position here or did you enter with the size you wanted and then decided to add more size as you felt more conviction in this trade as it started to reject here and move sideways here?