Shared by
CapitalMastery
Summary
Stayed patient, and waited for my known edge, and was able to get a clean process based trade off, but was hardly any meat by the time I got to it. Unfortunately, I completely missed an earlier valid entry signal at $9.20 which would have offered an amazing trade opportunity, but at the time I wasn't aware that a 1min cup + a 20min bar break could be a valid entry for this context/bias. Definitely a learning experience, and a reminder that I have some deep backtesting work to be done.
Why Was I in This Trade?
30minbab + 5min cup entry w/ 60min20ma target.
Did Right
Stayed patient, and did not put on a position until my "known" edge was validated. Also, held position until planned target, which worked out perfectly as it ended up being LOD.
Did Wrong
Due to not being more aware of possible entry signals, I completely missed a valid entry on the open. '
Improvements
Refine playbook to include 1min cups + 20min bar breaks for stocks that just fail off the open. This will likely be a 20min low as well.
Next Trade
Possible pop on open tomorrow for a 2nd day continuation trade.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2020-09-01 12:01:41 | KODK | sell | $7.560 | short |
| 2020-09-01 12:01:43 | KODK | sell | $7.550 | short |
| 2020-09-01 12:10:28 | KODK | buy | $7.360 | short |
| 2020-09-01 12:11:15 | KODK | buy | $7.260 | short |
| 2020-09-01 12:11:30 | KODK | buy | $7.260 | 0 |
Comments
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I'm new and trying to learn these charts. Did you short these trades? I'm confused by the red diamond first then the green buy diamond second.