Sent the following Tweet 13:48 ET
The top chart was captured at 13:46 ET and the bottom chart was captured at 16:00 ET. The patterns are almost identical, except the red candle body at the Close was worse than mid-afternoon, thus validating the decision to exit the trade earlier in the day.
Also, notice on the bottom chart there is no top wick. Both the Open and the High for the day are both 188.32. This means the day session opened gapped down and dropped from there. Zero strength. This led to a gap, and combined with yesterday's candle, a Kicker candlestick pattern was formed.
Unfortunately, we have a very Bearish looking chart, and there was no choice whether to get out of this trade. In fact, if price continues down tomorrow, we should probably short it. If I do, I may not comment on it on the blog.
I only post on a fraction of the trades I take. Most of my trades are intraday, and I'm too busy trading to blog about it. Plus, I want to focus on swing trades on the blog so I can document trades as they happen day by day. I use the same indicators and strategies on the swing trades as I do on intraday trades.
I would expect TXN to meander down to the downward angled Trend Line, then bounce off and continue higher. But who knows. Anything can happen from here.
Summary:
Entered TXN Jun 190/195 Call Spread on 5/24/21 for $1.97
Exit 6/3/21 for $1.30
Loss .67 * 100 shares = -$67.00
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