$FB short and long $NEOS

NEOS was a somewhat easy short trade very predictable shoring the pops

Here are all the  tweeted entries

Executed fills

NEOS 

NEOS

FB well that was a pure liquid beauty !

It was the "My Favorite Set Up" explained in many of my previous posts. High conviction trade with strict limited risk above the HOD so attacking from the wicky 2 min candles at the top was merely no brainer.

Trading a crappy stock like NGLS the past two days, then trading a beauty like FB,  feels like climbing Mt Everest and then taking a walk in a park. So sometimes taking a beating works for the better. See this post when nothing worked and was total red day across the board HERE

I love these earning's days when surprises are so big, that  volume just flooows and sizing is like dancing or like shooting machine gun at a shooting range.  

The short was initiated after fail to break the 2 min opening range. The 2min candles showed clear wicks, a rejection of upper levels, with risk above them as twitted here  real time.  although it worked on 5 min candles too ( I keep switching often 2 min to 5 min depends on volatility)

FB the initial short with risk above 108

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People ask me: 

• "What is your entry price? 
• "Where did you cover ?"  

This pick explains how I prefer to do it. Here are some of the fills since not all of them can fit  in:

FB Entries:  Rapid Fire ?

FB Covers  : Waltz Dance ?

Why my entries are in partials like this is explained in this prev post click here 

The thing about trading these big boards on earning's day is that the volume is so big and above the average that the movement is so fluent and with very little choppiness, therefore just trading by following the 2 min or 5 min candles is very doable and trailing stops is quite all right.

Watching the time and sales with L2 is just another thing that once I focus on one stock is pleasure to see how the stock breathes.

Now many people will say being glued to the screen to daytrade is ridiculous, but on days like today it is worth it... I'd say.

Shorting the 2 min open failure worked like Swiss clock  but I did reverse to long once it came back above the 106 range which made the day even better better. It was aleap of faith to take the long, but the risk was one 5 min candle.

Next long was after failed short  planned here

FB failed short triggered long 

FB the long above major resistance 108.00 the original reason to short at open 

108.00 being major daily resistance which originally I used to short of off, was scary place to short again, since the fuel ( the volume)  was just enormous. I pointed out the 1 mil shares traded in 2 min on tweeter click HERE  and here is the chart with the pointed vol bar 

FB 

When the high of that candle with the volume that  was dramatically big breaks, ,usually  there is a nice follow through. Plus the break above major daily resistance 108.00 makes this a very powerful long set up. 

FB few near EOD  trades to seal the deal after I gave away some of the profits 

I may be away from twitter for a while, but will keep posting as much as I can about any trade ideas. Stay disciplined and  play small till you become consistent.

Salute

AngelDan@DaChopa