Play
momentum continuation scalp
Catalyst
technical setup
Trade Idea
Price could touch .80 in the next few minutes
Setup Quality
C - price is shooting higher for no good reason. long term demand @.50, long term supply @.80
Plan
offer into strength and sell 100% into long term supply zone at .80
stop is break and hold below vwap/volume dries up/target is hit
Reasons to Sell
target is hit
stopped out
Executions and Price Action
initial small entry did not play out but price consolidated cleanly above vwap with some volume so I added to position
got antsy and sold too early; never felt convicted and did not want to go red on the day, price went to target and higher and capitulated quickly
Key Takeaways
should have held to target
not a horrible setup but stock was so cheap I did not feel convicted
in the green, sold early, feeling rusty, did not want 1st day back to be a red day, sloppy trade, C setup
platform was down so had to use TOS, this also was affecting my confidence
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2023-04-17 11:21:16 | BLCM | buy | $0.6900 | long |
2023-04-17 11:42:37 | BLCM | buy | $0.5990 | long |
2023-04-17 11:43:51 | BLCM | buy | $0.6387 | long |
2023-04-17 11:49:43 | BLCM | sell | $0.6956 | long |
2023-04-17 11:49:43 | BLCM | sell | $0.6956 | long |
2023-04-17 11:49:44 | BLCM | sell | $0.6956 | long |
2023-04-17 11:49:44 | BLCM | sell | $0.6956 | long |
2023-04-17 11:49:44 | BLCM | sell | $0.6956 | long |
2023-04-17 11:49:45 | BLCM | sell | $0.6956 | long |
2023-04-17 11:49:45 | BLCM | sell | $0.6956 | long |
2023-04-17 11:49:45 | BLCM | sell | $0.6956 | long |
2023-04-17 11:49:45 | BLCM | sell | $0.6956 | long |
2023-04-17 11:49:45 | BLCM | sell | $0.6956 | 0 |
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