It's been in the making but I finally managed to put together a solid day!
Ironically, unlike yesterday and last week Friday, today I started out red.
Nothing interested me for a pre-market trade; so I decided I'll wait and see if it any of my watches would carve out a pre-market flag so that I can jump in at the open for a breakout/breakdown. However, nothing set-up so I stayed patient looking for a 1-minute pullback entry on one of my watches.
Trade #1 & Trade #3: $TRVG did offer this set-up but I had a long bias on the stock and so I was reluctant to jump in short besides by time my mind could process a trade plan; the stock flushed and the opportunity vanished. After seeing the heavy selling in $TRVG and all of the stocks on watch being choppy I decided to wait for the 2nd 1-minute pullback to get short as the stock had seemed like it wouldn't bounce like I thought it might in pre-market. After seeing the hard rejection at VWAP and the big red bearish doji; I got in short 200 shares @ $10.80 looking for at minimum a re-test of LOD with a mental stop above the doji candle. The stock actually started dropping but then reversed hard with steady buying coming in. So I didn't even wait for it to take out the high of the doji; I stopped out $10.97 for a small and manageable loss.
So now that $TRVG established that it was in deed going to bounce I decided to stalk it for a long set-up which came. I waited patiently for the stock to break out of the pennant it had formed around 10:15ish but didn't get filled as the stock just moved up to quickly before I could react. I was hoping to get a fill on a pullback but after the ugly 1-minute candle around 10:20ish; I decided it best to avoid the stock for the time being. My 2nd trade in the stock and 3rd trade on the day is detailed in the image below:
Trade #2:
Tweeted about how overextended $HIMX was repeatedly yesterday and that I wanted to short it for a move down to $11ish. Well so said so done. After the stock pushed and failed $12 like I'd wanted and then tanked hard down to $11.24; I knew the short was on just gotta be patient and wait for a low risk entry. Which came around 10:30ish. Since I had strong conviction on this short; I jumped in with my max share size (500) @ $11.40 with a tight 10 cent stop. The stock actually spiked up and came to with in 1 penny of stopping me out. However, I held firm and my patience and conviction was reward as the stock started tanking allowing me to scale out in halves at $11.15 and $11.05. Not quite the $11.00 target I wanted but close enough!
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