03.30.20 $RCL

My thesis coming into today was $RCL will put in some more downside. Essentially, continuation of the move I was looking for on Friday. My game plan when the market opened was to let the opening drive do it's thing, wait for Friday's low of day to be tested at $32.80, and get short with my stop right over the top of that price at $33.00. My target was $28.50. Right out of the gate it dumped right down to my target. I thought, okay, maybe we'll put in a bigger range today than we put in Friday. Maybe today is the day we get that aggressive move to the downside. I waited for a pullback to VWAP and got short, looking for a tradeline-VWAP crossover. We bobbled around VWAP, the tradeline crossed, and it reversed on me (just like I thought would happen on Friday). Today I held firm though and got stopped out. I kept my short bias in tact and started thinking how I could trade it and play back at it. I figured I'd wait for it to move back up to the opening price and get short there, with my stop up at $33.00. It didn't make it there and started showing signs of weakness. It made multiple attempts to get higher and was starting to arch. This trade was AWESOME! I immediately got short with my stop over the pivot-high and it rolled over right then. I got every piece of profit off exactly where I wanted the entire way to my final target, just below the low of day. I covered my loss on my first trade and added to my P&L. I'm beyond pumped on the management and execution of this trade!