TWTR opened up strong and held higher out of the gate, so I looked for a higher low to get long and risk off lows which were around 33.48. I got in a smidge early, it came down a little more then proceeded to ramp. I paid myself on the way up and took off the last bit when a stuffy/stop candle hit some stops above 34.05s and it wicked up, quickly to come back below 34. I figured it would wash back down when I began to see a good short setup appear, so I took the rest off and looked to get short.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2019-02-01 09:37:57 | TWTR | buy | $33.600 | long |
2019-02-01 09:40:30 | TWTR | sell | $33.780 | long |
2019-02-01 09:41:19 | TWTR | sell | $33.970 | long |
2019-02-01 09:48:21 | TWTR | sell | $33.950 | 0 |
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What gave the conviction for the long trade? It seemed to me that the open drive failed with the break of VWAP from two long red candles. I am asking because your long was taken before a green candle was formed.
Do you use the tape and if so what is it that you saw that gave you the urge to go long?
Nashlows