Thesis: After Sam Altman (former CEO) returned to the same position to OpenAI, there were signs of potential liking from the street. RVOL was about 3-4 and premarket showed an uptrend with possibility of continuation. After open, when price started to consolidate above the opening high, I have decided to take scalp trade.
Stop: Placed my stop-loss below consolidation breakout candle. I define consolidation breakout in this trade by candle close above all previous highs (minimum 5) of consolidation.
Entry: I have entered position once the breakout candle closed.
Targets: 1to3
Breakeven point: was set after 2 min. Standard practice for scalps that I follow.
Profit taking: had to be faster...
Comments: I would need to take some off at 1to2 RR (30.20 area)
Lessons: Establish all orders much faster.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2023-11-22 09:40:03 | AI | buy | $29.990 | long |
2023-11-22 09:40:04 | AI | buy | $29.990 | long |
2023-11-22 09:40:06 | AI | buy | $30.020 | long |
2023-11-22 09:40:07 | AI | buy | $30.000 | long |
2023-11-22 09:42:16 | AI | sell | $30.000 | 0 |
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