Today's Recap 8/23/23

Trade 1: $GOOGL 132c

• Reason: key level reclaim / relative strength

• Entry: 132c at 1.45

• Exits: 1.75, 2.05, 1.45

• Percent Gain: 42%

Today, GOOGL was able reclaim the 130 level right at the open and broke into the 132 level with volume. The plan for a breakout today in the broader market was for $SPY to get the reclaim of 440 and $QQQ at 365. Going into today, I actually had a focus of more downside but seeing a lot of strength in the first 15-20 minutes added conviction to the upside. All we needed to get the move was the $SPY reclaim of 4400. When GOOGL got the break of 132 I went long risking 131.50. $GOOGL was able to get the move through 132 after a bit of backtesting. Was able to get a 42% win at the highs.