Price was near 59.00 level of support that was previously tested and held that day.
I saw a candle become green and tall and rushed to enter. I was faked out as it quickly sold off. I should've waited for the candle to close green. Volume was increasing but not to a level that should've made me rush in.
Decent exit out pretty quick for a loss. Could've been better but not close to my worst.
Lesson Learned: It's best to let a 5m candle close over your trigger. But I should at least let a 1m candle close that I like before entering. I got faked out because I rushed in when price started moving. Should've looked for high volume and a hold of that 59.00 level.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2021-02-03 10:06:47 | SNAP | buy | $59.150 | long |
2021-02-03 10:07:11 | SNAP | sell | $58.930 | 0 |
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Excellent cut and good review of what went wrong and how you can improve