Shared by
BanalityOfEvil
MNQ - short - reversion scalp to VWAP
"C" setup
little technical play, small size
VIX is under 20 so this is less likely to revert strongly
Amazon is making new highs, but the other heavyweights are showing some weakness at HOD after an impressive market rally. This may retrace to vwap, but I believe the market will probably close near HOD or higher. The market has been on a tear.
Stop is break even, target is VWAP. cover at first sign of strength
Executions
got short as HOD failed to reclaim, held for several minutes. AAPL and TSLA started to curl back up with some volume so I closed the position for small profit
market rallied higher
Key takeaways
good technical setup, market is just really strong
low probability trade which I knew going in
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2023-01-13 13:14:47 | MNQH3 | sell | $11524.75 | short |
| 2023-01-13 13:21:10 | MNQH3 | buy | $11511.50 | 0 |
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