Stock Selection Information
Benzinga Market Primer: Friday, April 5: Non-Farm Payrolls Edition.
Watch List Reason - There was no relevant news on it, but had some pre-market volume. Not much overall pre-market volume today.
Pre-Market Volume - 1.83%
Trading Plan - Sres @ 33.0 || Ssup < 32.75
Management
Entry Setup used: Scalp on CCI divergence
Trading Comments
There was some selling being done at 33.10, and use the divergence to confirm the move. The target was the VWAP.
There was some buying at 33.00 which forced me to close the position.
There was some buying at 33.00 which forced me to close the position.
Evaluation
The level 33.00 was identified during the morning prep as a potential level for a short at resistance.
The CCI divergence with the selling on the tape, was a good reason for a scalp trading.
I should´ve traded with 200 shares instead of 100, which is my size for the morning trades. With that size I could´ve manage the trade another way, buying back 100 shares at 33.00 and hold the other 100 for the target at 32.95.
This was a scalp play, so I don´t regret getting out where I did. CCI was alreasy on a oversold level. After that I watched the stock, waiting for a Lower High setup, that did not happened, suggesting the buyers were actually in control.
The CCI divergence with the selling on the tape, was a good reason for a scalp trading.
I should´ve traded with 200 shares instead of 100, which is my size for the morning trades. With that size I could´ve manage the trade another way, buying back 100 shares at 33.00 and hold the other 100 for the target at 32.95.
This was a scalp play, so I don´t regret getting out where I did. CCI was alreasy on a oversold level. After that I watched the stock, waiting for a Lower High setup, that did not happened, suggesting the buyers were actually in control.
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