Improvements:
- This was a counter trend trade and an entry that was based on the loss of the daily vwap.
- The stock had a very strong opening drive to the upside and set the opening range high for the session.
- The stock then had a long and extended pullback down into and then below the daily vwap.
- The pullback was over 61.8% Fib retracement from the low to high of the opening drive range.
- These two facts, for me, added to the weight that the stock had a great chance of going lower than pushing higher.
- Therefore I developed a short bias and started to stalk for a trade setup and entry to the short side.
- The stock pushed up into the daily vwap and was held at the previous sideways consolidation at the 174.50-level.
- The stock made a second attempt to push higher and was rejected at the 174.50-level.
- The stock then had a hard down move and I entered short.
- The stock moved higher and I had set a second order in the break of the original price entry.
- The order was filled and then immediately reversed.
- I had some issues with managing two separate open orders and so only the 2nd order that got filled was stopped out.
- My intention was for bother orders to be stopped out.
- In any case, I moved the second stop order down closer into the price action and it too was stopped out on the next push higher.
- Here I needed to be thinking to move the profit order up closer to the entry area and let it be filled.
Range chart:
Range chart showing the initial entry into the trade, the location of the second add and then where I had hit out of the trades with moving the stop orders closer to the entry area.
https://prnt.sc/PmHd6m4Cnvc4
Notes:
- The trade was low value in that there was not a clear and definite signal for the loss of the vwap.
- Good stop management to have the stops move down quickly once the PA wasn't working in the trades favor.
Actions:
Trade Technical variables:-
ATR:
Rvol:
AVol:
Beta:
Short:
Float:
Ins. Own:
WIC:
VWAP: