Conclusion: Mind the Volume
Conclusion: Watch for Large Red Candles
Action:
Bought 1 min HoH (within the same candle, a red-to-green candle) after Halt, FPT $2.50
Scaled out at FPT, Stop to Low of Previous 1 min Candle
Stopped out
Analysis:
The Pullback was a single Large Red Candle on High Volume, this indicate weakness or imminent consolidation
The 5 min Pullback that was occurring may have been a much better play
The topping tail on the candle in which I scaled out should have warned me that resistance was present
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2020-10-20 11:10:31 | WEI | buy | $2.320 | long |
2020-10-20 11:10:32 | WEI | buy | $2.320 | long |
2020-10-20 11:10:32 | WEI | buy | $2.320 | long |
2020-10-20 11:10:32 | WEI | buy | $2.320 | long |
2020-10-20 11:11:07 | WEI | sell | $2.560 | long |
2020-10-20 11:11:08 | WEI | sell | $2.580 | long |
2020-10-20 11:12:01 | WEI | sell | $2.530 | 0 |
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