Shared by
Emilie_BOWS
Daily: earnings breakdown
Intraday:
- 1st entry: short after quick test to $63 level
- 2nd entry: ORB on 5m chart
- 3rd entry: VWAP fade
I was hoping for the 200 SMA on daily around $60 but it didn't get there. The overall market was too strong.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2017-02-15 09:32:19 | AIG | sell | $62.380 | short |
| 2017-02-15 09:46:38 | AIG | sell | $61.290 | short |
| 2017-02-15 10:03:57 | AIG | buy | $60.670 | short |
| 2017-02-15 11:42:37 | AIG | sell | $60.950 | short |
| 2017-02-15 13:26:45 | AIG | buy | $60.660 | short |
| 2017-02-15 13:28:05 | AIG | buy | $60.770 | 0 |
Comments
Emilie_BOWS
My stop would be HOD with some wiggle room because at the open price is always much more volatile.
For this particular chart, I think you could enter as early as on the 3rd candle when price was breaking below the low of the 2nd candle but you could also enter on the 4th candle when price continued to move down, below $62.5. After the first 3 candles you can see it's pretty clear that this stock was trending down so you can enter a bit earlier for a better entry instead of waiting for a new LOD. However, if the first 3 candles don't reveal much about the potential direction, it's better to wait for a clear break of the range.
In general, on ORB setup, entering on the 4th or 5th candle has higher probability (assuming that you don't chase if stock already breaks away). Basically you enter when you are confident that price is going to break below the opening range.
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Hi Emilie,
- How the stop would be like for the 1st entry? $63? or when if it breaks above 9/20 EMA?
- To play an ORB, what candle should I enter ( 4th 5min candle?),
and at what price? ( when it breaks the low of the first 3 candles at 61.2 ?)
Thank you,
Daranee