Shared by
VadimT7
Bought too far ($1 away) from dip level.
- Price was in a downtrend and failed to break previous resistance(opening price).
- Too many wicks in the trend up and a shooting star on high volume which indicates that the stock will come lower.
= Wicks + Shooting star + downtrend = No Long Trade.
Set SL below green candle low because if price breaks below it, it means that the buying wasn't sufficient to bring the price higher.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2021-02-09 10:00:09 | CHCI | buy | $12.950 | long |
| 2021-02-09 10:15:38 | CHCI | sell | $12.800 | 0 |
| 2021-02-09 10:17:06 | CHCI | buy | $12.340 | long |
| 2021-02-09 10:23:12 | CHCI | sell | $11.700 | 0 |
| 2021-02-09 10:35:09 | CHCI | buy | $11.350 | long |
| 2021-02-09 10:40:52 | CHCI | sell | $10.450 | 0 |
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