Shared by
MarcoG
Consolidation Squeeze Play above pm high on ER beats!!
Requirements:
RVOL: Possibly >1.5
pmVOL: Possibly >50 K
avg Vol: > 1M
Vol @ Day : > 1 M
Gap: If possible but not strictly needed
Long Term Chart : Possible Pocket, trend already defined and strength.
Float: > 20 M
Short Float: Possibly >40%
Institutional Ownership : Possibly > 100%
History of Gap Follower: Neutral
History of former runner: Possibly YES
Major ETF movement and strength: Possibly Trending with strength
Up gapper in premarket due to earnings I have traded the first candle to make a new high. Wonderful price action. I have done a mistake in setting up my order. I wanted to grant me a minimum of 1:5 P/R setting a stop loss order just below my target but accidentally I have selected a limit order instead of a stop thus the position closed. Still I have got a 2:1
I didn't have hesitation this time!! I have loved it :D
Here are my orders
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2019-02-01 09:51:54 | SYMC | buy | $22.740 | long |
| 2019-02-01 10:00:10 | SYMC | sell | $22.980 | long |
| 2019-02-01 10:01:27 | SYMC | sell | $23.060 | 0 |
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