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Shared by
JDtheEntity

 

PLAY

Jun 24, 2020 09:48


Tags:

Trade - Day Strategy - Gap Open Scan - ITN Risk Mgmt - Yes P/L Ratio Followed - No Mistake Exit - Flatten Entry - 10m Account - TD

Why
regular gap open trade.
What did I do right?
entry was cool. number was good but mkt was a drag on all stocks today
What did I do wrong?
When i saw a clear sign of bear flag and no immediate bounce once price target was hit I should have flattened out earlier rather than waiting for my stop to be hit. could have cut my losses even shorter. also the overall mkt was down big today.

Notes
price did not give me the reaction I wanted it to once it hit my number.

price action not looking good at all. Looks like a bear flag is forming. I am waiting to see if current bar on 15m closes below 14.68. if so I will cut my losses short and not wait for a stop out. Currently price is below 14.68 its at 14.56 now

a close below 14.68 would be yesterdays low

I am having 2nd thoughts because my rules say to close out on hourly closes below my stop

I decided I will wait it out…. I set my alerts. Im bout to go be productive around the house

price is now hovering above the weekly S2


Execution detail:

Date/time Symbol Side Price Position
2020-06-24 09:48:06 PLAY buy $14.950 long
2020-06-24 11:30:04 PLAY sell $14.175 0


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