The set-up: Opening Drive/ Break Out
I was looking at META during the opening. Having alot of relative strength and decided to trade it. (Open above open price and up trend/ with the market SPY AND QQQ also pushing up). I was be able to see a healthy pull back and buy a at pull back signal (as long as it does not broke the up trend bar). I was buying at $133.50. Where I risking around 50c to target $1 to $2 move.
This trade also take a lot of time to working out (My first time to trade META). In the future, I will need to careful when enter a contract, I need to look at the spreach offer and ajust my position size accordingly with the risk
What I did Right:
Pick stock in play with trend and T/A. Trade with market momentum - as well as scale out and patient for the trade to working out
What I did Wrong: None
Where I could improve: A+ Setup, add size later.
Trade grade: A
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2022-10-25 09:41:21 | 28 OCT 22 134 CALL | buy | $8.250 | long |
2022-10-25 09:46:34 | 28 OCT 22 134 CALL | sell | $8.600 | long |
2022-10-25 09:48:26 | 28 OCT 22 134 CALL | sell | $8.750 | 0 |
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