WDAY Trade on Nov 30, 2018 09:41 from ephraim_elston: Tradervue User Stock Trades.

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ephraim_elston

 

Tried playing this as a restistance play (gap up into ATH's)... but this one turned out to be a Catalyst PB(an A+ setup for me) after all... I was just too short biased after seeing a lot of earnings gappers get stuffed and never break above their premarket highs... but that was mostly tech stocks that were showing relative weakness ahead of earnings... whereas WDAY has shown relative strength (so has the Software Industry recently) ahead of earnings and the PM trading was a clear break above ATH's
And also, the general market has become more risk on/bullish after the Fed speech this week.

Sellers at the open, pushed it below 157 (previous ATH)... but bids were not going away... and when my short at 156 went red... I should have just hit out right away.... at very worst I should have been out once bids held 157 (and maybe even flipped long).
I was too short biased coming into this instead of just letting the price action tell me what to do... also, this stock has shown a lot of relative strength and ultimately this one didn't really tick that many boxes for the resistance play.
So just too much bias being influenced by other names getting sold off... even though this stock was different.
Mental mistake... really had an opportunity to hit my A+ setup on this one when we got to long lower wicks near the 28 and then reclaim of VWAP, actually a pretty obvious long as offers were beginning to retreat
I'd have to say this was probably my worst trade of the month - took a big loss on small size... smh


Execution detail:

Date/time Symbol Side Price Position
2018-11-30 09:41:00 WDAY sell $155.800 short
2018-11-30 10:00:00 WDAY buy $162.170 0


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