Conclusions:
- Stick with your new Trade Rule to Consider Scaling Out Again at Trade P/L=$100
- Mastering Level 2 and T&S can give you Insight into Imminent Price Action
Action:
Bought 1 min HoH $4.20, Stop to Low of Pullback $3.83, FPT $4.6
Scaled out at FPT
Scaled out at Trade PL $100
Stop to Previous 1 min Candle Low
Stopped Out
Faced Fear, and disregarded it. Still shaking a little though.
Analysis:
- Clean Pullback Setup on the 1 min, Decent Strength in the Buildup, a Small relatively Low Volume Red Candle comprising the Pullback
- In this trade, I benefited from my new trade rule to scale out again at Trade P/L=$100 ($100 is double my max loss per trade)
- It is possible this Break Down could have been Predicted if a Large number of Sell Order was visible on Level 2 just before the Break
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2020-10-22 09:39:15 | EVK | buy | $4.190 | long |
2020-10-22 09:39:15 | EVK | buy | $4.180 | long |
2020-10-22 09:39:16 | EVK | buy | $4.180 | long |
2020-10-22 09:39:16 | EVK | buy | $4.190 | long |
2020-10-22 09:40:13 | EVK | sell | $4.660 | long |
2020-10-22 09:40:13 | EVK | sell | $4.660 | long |
2020-10-22 09:40:46 | EVK | sell | $4.770 | long |
2020-10-22 09:41:16 | EVK | sell | $4.270 | 0 |
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