Shared by
WildThingTrading
More of a risky type of trade but one that can give some pretty decent gains. Plan was to scale in and build a good size short position close starting close to the $5 level and was prepared to add up to the 5.50s if necessary (resistance level on daily chart). Took that first 1k shares at 4.83 after those 2-3 exhaustion candles and added at the 1st 3 min candle to make a new low.
With these types of parabolic moves and trying to basically catch the top I'm not looking for a home run trade at all. Just looking for a nice scalp back to the moving avgs and VWAP for .20-.40 gains. Then looking for the back side of move for more opportunities. Hopefully this one holds most of its gains today and gives more opps over the next few days.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2016-10-13 10:34:00 | AEZS | sell | $4.830 | short |
| 2016-10-13 10:38:00 | AEZS | sell | $4.670 | short |
| 2016-10-13 10:42:00 | AEZS | buy | $4.580 | short |
| 2016-10-13 10:50:00 | AEZS | buy | $4.500 | 0 |
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