Shared by
hang3621
Major events: Powell just spoke about interest rate hikes, and the general direction of the market was red. There was a lot of selling pressure in the streets.
Catalyst: True
Why did we trade this?: The ticker had a strong daily candle with a long wick at the bottom. Tight stop loss was set in case the candle would go green to red. The pre-market high was 3.14 which meant our Reward/Risk at 2.80 for a .30 gain and a .10 loss gave us a good opportunity. The stock respected the 200 ema so if there was a strong bounce from the 200 ema back beyond VWAP, we would see a good probability this would break pre-market highs.
What did we learn from this trade?: Buy from the bottom where the 200 EMA was being respected for protection of capital. This one retested the top of the formation multiple times before breaking out.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2022-09-23 09:48:22 | LITM | buy | $2.780 | long |
| 2022-09-23 09:50:19 | LITM | sell | $2.840 | long |
| 2022-09-23 09:50:19 | LITM | sell | $2.840 | long |
| 2022-09-23 09:50:19 | LITM | sell | $2.840 | long |
| 2022-09-23 09:50:35 | LITM | sell | $2.840 | long |
| 2022-09-23 09:51:04 | LITM | sell | $2.841 | 0 |
| 2022-09-23 10:04:50 | LITM | buy | $2.920 | long |
| 2022-09-23 10:04:50 | LITM | buy | $2.920 | long |
| 2022-09-23 10:05:51 | LITM | sell | $2.850 | long |
| 2022-09-23 10:05:51 | LITM | sell | $2.850 | long |
| 2022-09-23 10:05:51 | LITM | sell | $2.850 | 0 |
| 2022-09-23 10:07:28 | LITM | buy | $2.955 | long |
| 2022-09-23 10:07:28 | LITM | buy | $2.955 | long |
| 2022-09-23 10:07:28 | LITM | buy | $2.955 | long |
| 2022-09-23 10:07:28 | LITM | buy | $2.955 | long |
| 2022-09-23 10:07:28 | LITM | buy | $2.960 | long |
| 2022-09-23 10:07:28 | LITM | buy | $2.960 | long |
| 2022-09-23 10:07:28 | LITM | buy | $2.960 | long |
| 2022-09-23 10:12:55 | LITM | sell | $3.140 | 0 |
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