Blank Chart Fiasco
This was another one, I seriously believe that I understand the lesson that is being taught. To understand that supply / resistance matter alot as well as the idea that the R/W ratio must be feasible for the trade to be worth taking. In this case I entered long at 28.79 however the pre-market high was sitting right at 30. The correct play would have been to allow this trade to clear that level before taking an entry. Of course I would have had have to know that the level was there. Besides this the trade was awesome, seems that I was even on the correct side of the trend for once in my life ( with the blank charts). I will starting next week with my indicators back on and marking my levels prior to the entry of the trade. If the R/W ratio does not make sense, I will not enter the trade until it does!
I saw the trade failing (price action) but stuck to my stop and came out with my loss tailored down to a reasonable level! Great trade!
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2019-04-03 09:35:25 | SIG | buy | $28.790 | long |
2019-04-03 09:37:43 | SIG | sell | $28.260 | 0 |
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