NXST Trade on Jul 8, 2013 11:12 from RaeTrades: Tradervue User Stock Trades.

Setup: High RSI, Reversal
Risk: low risk stop was at HOD
Breakdown: High RSI shorting and low RSI shorting are probably my favorite trades to make. RSI 90+ and when I get a wick and some selling I jump in. First with a starter and as it confirms I double up. Then scale out on the way down.

Execution detail:

Date/time	Symbol	Side	Price	Position
2013-07-08 11:12:25	NXST	sell	$39.000	short
2013-07-08 11:13:20	NXST	sell	$38.730	short
2013-07-08 11:15:50	NXST	buy	$38.650	short
2013-07-08 11:17:37	NXST	buy	$38.500	short
2013-07-08 11:18:48	NXST	buy	$38.520	0

#chart1 { background-image:url('/shared/charts/pricechart?symbol=NXST&trade=508579&end=20130807&i=d&TimeRange=120&Volume=1&ChartType=candlestick&width=450&height=275');}

#chart2 { background-image:url('/shared/charts/pricechart?symbol=NXST&trade=508579&end=20130708134848&i=m5&TimeRange=90&Volume=1&ChartType=candlestick&width=450&height=275');}

#chart3 { background-image:url('/shared/charts/pricechart?symbol=NXST&trade=508579&end=20130708121648&i=m2&TimeRange=90&Volume=1&ChartType=candlestick&width=450&height=275');}

#chart4 { background-image:url('/shared/charts/pricechart?symbol=NXST&trade=508579&end=20130708114648&i=m1&TimeRange=90&Volume=1&ChartType=candlestick&width=450&height=275');}

Comments

kunal00

2013-07-08 22:02:16

ooooh i like this.. veryinteresting setup

RaeTrades

2013-07-08 22:03:32

Thanks kunal would you do anything differently?

JoJoTrades

2013-07-08 22:31:54

really great trade, imo. initial short was at the perfect spot, basically at the damn top...then Adding on confirmation? beauty. cover spots were all spot on. this play was perfect. only thing that could be sweeter would be more SIZE! >:D

JoJoTrades

2013-07-08 22:33:21

also really great to see a high intraday RSI Short play shared here at tradervue....should happen way more, love it!

RaeTrades

2013-07-08 22:38:52

Thanks I got in as soon as I started to see it crack. Yeah im still a rookie so I don't go in too heavy. Hoping to get more of these play down before I start upping sizes.

JoJoTrades

2013-07-08 23:07:28

great idea, tbh. learn to spot em and nail em consistantly, then up the size. if I had to start over, I woulda been trading with way smaller size for the first year :-/

kunal00

2013-07-09 12:14:42

not really i havent used that setup before so ill need to learn it!

RaeTrades

2013-07-09 13:49:29

Gotcha Kunal. I'm building my go to trade setups and going to pick three or so and only scan for those trying to get very familiar with them.

NXST Trade on Jul 8, 2013 11:12 from RaeTrades: Tradervue User Stock Trades.

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