Meta PlatformsShort
FB Short
Updated
FB seems to be fading after a high volume selling off with poor future guidance,
Opening a short at this level 209.50 stop at 212 my target will be 200 and if it breaks down passed its previous support I will add to my position until it either reaches the 200MA/ breaks through the 20 MA line or the trend-line I drew. Hold time is until these targets are met.
Currently the market is moving sideways but the SPY could continue higher as it always does which could make facebook slowly recover its losses.
There is no divergence on RSI however the support and resistance + the volume in the move makes this trade a - Grade B trade.
Lets see what happens.
100 Trade Challenge Begins. This is a paper trade.
Capital is 10,000 USD /w 2x margin. Max I can trade is 20,000. FB will us 6282.9 of capital with remaining of 13,717.1 remaining.
Shorting 30 shares @ 209.43// Max loss is $77.10 if it hits my stop which is which is 0.7% of my capital.
1/100
Opening a short at this level 209.50 stop at 212 my target will be 200 and if it breaks down passed its previous support I will add to my position until it either reaches the 200MA/ breaks through the 20 MA line or the trend-line I drew. Hold time is until these targets are met.
Currently the market is moving sideways but the SPY could continue higher as it always does which could make facebook slowly recover its losses.
There is no divergence on RSI however the support and resistance + the volume in the move makes this trade a - Grade B trade.
Lets see what happens.
100 Trade Challenge Begins. This is a paper trade.
Capital is 10,000 USD /w 2x margin. Max I can trade is 20,000. FB will us 6282.9 of capital with remaining of 13,717.1 remaining.
Shorting 30 shares @ 209.43// Max loss is $77.10 if it hits my stop which is which is 0.7% of my capital.
1/100
Trade active
Moved stop to 213Trade active
After the fact update. This trade was actually more risky because it passed the 50 MA so it could have gone either way. Downgraded to Grade CTrade closed: stop reached
Note
Take way for this trade is, poor timing I should have shorted at the channel and too tight of a stop perhapsNote
Scratch that, wish I could edit, Poor timing I should have shorted at the MA instead of afterwards but my stop was too tight.
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