31/12/2020 ASX:FMG

31/12/2020

-Trade: FMG , China

-Catalyst: Iron ore price drop on China appeal to cut steel output.

Setup: B - Volume was low, because year end holiday

Technical: ATH, looking for short

What I do : shorted at 24 on open, and the bidding price keep going up and holding the price steadily above 24, making it hard to close my short, decided to cover on scratch at 23.95. Was thinking about holding overnight but give up because of 3days interest. End up surprise closing match dropped 2.29% which no one can predict. 

Verdict: Should hold for longer term

30/12/2020 ASX:IRI, WEB

30/12/2020

-Trade: IRI in news

-Catalyst: IRI earning downgrade, downtrend for the past month

Setup: B - Volume was low, because year end holiday

Technical: Downtrend, looking for short

What did I do: I watched the open as it tick up from 2.81 to 2.83 thinking it was going higher, but uncertain it will bound back. 

Short on 2.69 on 2:43pm as  I watched the price didnt break 2.7 which should be the key level from the low 2.61. Closed on 2.65 , which should have stick to my 2.62 price... I think it will go lower tomorrow on 31/12/2020 (not buyer support)

Better?

Should short the morning from 2.8 ,was a good fade

ASX:WEB

-Trade: WEB was overbrought on 29/12/2020; macro US market is weak, pending stimulus news

-Catalyst: no catalyst

Setup: C- I shorted in the morning on 5.26 ( bad entry)

Technical: was looking for correction thinking it will go to 5.16, looking for short

 

What did I do: I short on open as it tick up to 5.26 (bad entry) thinking yesterday close on 5.32 was too high.. straight after my entry WEB shoot up to 5.33. stonk effect is working . End up close at 5.23 as the support is too strong 

What I should do : I should short APT and SZL, as there is more meat to drop. 

31/12/2020

Verdict: WEB dropped on market weak 31/12/2020 on open to 5.23 and dropped more on 12pm to 5.09 :- should keep to my thesis...