UGAZ Trade on Nov 15, 2019 13:16 from Chigozie: Tradervue User Stock Trades.

Why did I want to take the trade?

Was trending all afternoon with great momentum.

What did I see?

Continuously successive 5 minute flag setups.

What was the downside potential?

A false breakout on the next 5 minute candle to make a new high.

What was the upside potential?

Continuation off the 20 EMA and make higher highs, breaking daily resistance since it already met it at the 9 EMA (daily).

How did I manage the trade?

Bought the first 5m candle to make a new high, after selling off to the 20 EMA (5m). So these usually don't net much profit but I knew there would be resolution, and maybe possibly a retest of daily highs. The latter very unlikely but the fact that the trade could have ended in a winner was enough to take it.

What was I feeling at the time?

Elated because I love trading ETFs, and although I am taking a break on them, I am still going to trade UGAZ all winter, as this is the season where /NG starts to trend well. So was nice finishing green on an ETF, which really boosted my confidence and added excitement for what's to come this season.

What did I do wrong?

Losing awareness and missing out on the cleaner 5 minute setup from earlier. So I ended up taking this one which was much less profitable.

What did I do right?

Locked in half my gains as it squeezed above the 5m 20 EMA since, especially after a daily chart rejection, there most likely wouldn't be continuation.

How can I improve in the future?

Set a series of alerts on UGAZ each and every morning based on the daily chart so I know when and where it's trending.