TSM - Swing Trading
Chart Setups:
- hourly timeframe
- using my script "Relative Volume + ATR Strategy" to plot out significant price areas, assume they are areas of support/resistance (Orange lines)
Bias: Long. However, expects price rejection at 120. If the breaks out of 120, then at most it will re-test 126 before coming back down to one of those orange lines.
Analysts having been putting 130-150 targets on TSM, but this stocks always get sold off during first hours of opens. When looking from daily chart, this stock trades sideways. So instead of HODL'ing, a swing trader may see this as an opportunity for periodically selling an existing position (or shorting), followed by re-entering the trade (or covering).
Execution / Trade Journal:
I averaged down on TSM over the past week. My average cost was 112 on the day that the stock gapped up to 115.6. Sold off a portion of my holdings during the first hour of market's opening to adjust the weights of my portfolio.
Currently, I still hold half the number of shares acquired. Replicating the trailing stop-loss set by the strategy (refer to the plotted green line) with a stop-limit order, I manually adjust the stop-loss-price upwards whenever I notice price traded at a new high. My current stop-loss is at 117. If stopped out (while still taking profits), then I will re-enter the trade at a price ideally lower than the triggered stop-loss-price.
- hourly timeframe
- using my script "Relative Volume + ATR Strategy" to plot out significant price areas, assume they are areas of support/resistance (Orange lines)
Bias: Long. However, expects price rejection at 120. If the breaks out of 120, then at most it will re-test 126 before coming back down to one of those orange lines.
Analysts having been putting 130-150 targets on TSM, but this stocks always get sold off during first hours of opens. When looking from daily chart, this stock trades sideways. So instead of HODL'ing, a swing trader may see this as an opportunity for periodically selling an existing position (or shorting), followed by re-entering the trade (or covering).
Execution / Trade Journal:
I averaged down on TSM over the past week. My average cost was 112 on the day that the stock gapped up to 115.6. Sold off a portion of my holdings during the first hour of market's opening to adjust the weights of my portfolio.
Currently, I still hold half the number of shares acquired. Replicating the trailing stop-loss set by the strategy (refer to the plotted green line) with a stop-limit order, I manually adjust the stop-loss-price upwards whenever I notice price traded at a new high. My current stop-loss is at 117. If stopped out (while still taking profits), then I will re-enter the trade at a price ideally lower than the triggered stop-loss-price.
トレード終了: 利益確定目標に到達:
Update: closed my position at 125 on Sept. 14.
Next entry:
- Scenario 1: if consolidates over a period of few days within 117-119 range, will enter with a stop loss place no lower than 115.6. There is an up-gap between 113 to 115. Distributions of shares in this gapped area is nil (volume profile indicator on an hourly chart; 150 bars of lookback).
- Scenario 2: If 113-115 gap fills, then will wait further to see.
Next entry:
- Scenario 1: if consolidates over a period of few days within 117-119 range, will enter with a stop loss place no lower than 115.6. There is an up-gap between 113 to 115. Distributions of shares in this gapped area is nil (volume profile indicator on an hourly chart; 150 bars of lookback).
- Scenario 2: If 113-115 gap fills, then will wait further to see.
