Shared by
Emilie_BOWS
Daily: break down to new low
Intraday:
- 1st entry: VWAP/bear flag break down, stop above recent swing high
- 2nd entry: bear flag breakdown, new LOD
Covered around $16 (whole number) and got out after the dip under $16 didn't have follow thru
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2017-04-03 11:34:56 | HTZ | sell | $16.700 | short |
| 2017-04-03 13:17:27 | HTZ | sell | $16.520 | short |
| 2017-04-03 13:40:13 | HTZ | buy | $16.060 | short |
| 2017-04-03 14:15:15 | HTZ | buy | $16.000 | 0 |
Comments
Emilie_BOWS
I didn't enter on the 1st VWAP test because I thought the flag was a bit short. I wanted to wait a little longer.
That big volume was just one small part in the big picture. The candle itself wasn't that big. An exhausted candle is usually significant larger than earlier candles and/or has a big tail from low. The daily candle was also not big at all.
I liked that second rejection at VWAP. The flag at that time had the "look" of a high probability bear flag. The 20 EMA was there too.
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Hey sorry I keep bothering you but I really do find all of your trades fascinating. I started building the filters you mentioned before in prior comments and saw HTZ today. I thought about shorting it in the 10:15-10:45 area because of the bear flag but the big flush volume made me think it found a bottom and there wasn't any news it seemed.
I kept it on watch later in the day but didn't short it just because of that big volume made it seem like it was done. What made you short it despite the big volume and why didn't you enter on the first VWAP test and waited for the second one?