KL Trade on May 13, 2019 10:24 from PriceActionBarByBar: Tradervue User Stock Trades.

My first trade in this market was actually a short trade off the open, once the second bar put in a bear reversal at key resistance levels identified during the pre-market, I went short at one tick below the low of that second bar (200 shares). With a stop one tick above the signal bar. Once the entry bar closed it gave me an idea on the probability of more downward momentum, so I was able to establish a profit target on some of my position, once that target was hit I booked 100 shares. Also once the entry bar closed, I moved my stop to one tick above the that bar.
Once the sixth bar of the session put in a bull reversal bar, that was the first sign of bull strength since the first bar of the day, causing me to to bring my stop to breakeven.

Three bars later a 2 bar bull reversal was put in and that was the second signal to be long this stock. I closed my position(100 shares) and switched to long (200 shares) with a stop one tick below that signal bar and once the entry bar closed, I moved my stop one tick below the entry bar and the entry bar once again gives you an indication about the strength of the move, allowing me to generate another target to book some profit. Once that profit target was hit I book 100 shares and waited for either the market to tell me to close or to show me another setup to add another 200 shares, (meaning 300 shares open).

The next setup came from the micro-wedge (three consecutive pushes down followed by a bull reversal bar) as soon as that pattern setup, I added to my position, so in a way, yes I scale into a position by continuing to add as the stock moves in my favor and booking some profits along the way. A microwedge is a great setup because it puts you up against a strong stop, risking minimal for a potential large reward.

I repeated this process all the way up, so you see, it's not much a "trust and hold" as it is a "manage and follow" price action strategy. Each good setup will expose you to only minimal amount of risk, relative to the reward.


Execution detail:

Date/time Symbol Side Price Position
2019-05-13 10:24:26 KL buy $33.750 long
2019-05-13 10:35:37 KL buy $33.760 long
2019-05-13 10:37:23 KL sell $33.735 0
2019-05-13 10:50:39 KL buy $33.750 long
2019-05-13 11:06:23 KL sell $33.810 0
2019-05-13 11:10:27 KL buy $33.940 long
2019-05-13 11:19:33 KL sell $34.060 long
2019-05-13 11:43:01 KL buy $34.160 long
2019-05-13 12:12:11 KL sell $34.310 long
2019-05-13 12:41:56 KL sell $34.470 0
2019-05-13 12:57:16 KL buy $34.708 long
2019-05-13 13:06:14 KL sell $34.880 long
2019-05-13 13:18:36 KL sell $34.720 long
2019-05-13 13:53:46 KL buy $34.750 long
2019-05-13 14:00:04 KL sell $34.930 long
2019-05-13 14:16:21 KL buy $35.000 long
2019-05-13 14:51:36 KL sell $35.080 long
2019-05-13 15:40:05 KL sell $35.150 0


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