Trade Idea:
- EYES led the market and really picked up solid momentum around 12:00
- I tried to jump on a bout of raw momentum following a micropullback which straddled the $6.75 area.
Risk/Reward:
Reward: TP above $7 ideally
Risk: $6.7 SL
Position Sizing:
Took 100 shares given it was not an A setup and I was risking $0.10 on the trade.
Trade Management:
- There was an intracandle range between my entry and ~$6.9 so I sold half on the upper potion and sold the rest on a retest of my entry at $6.83 when it began to break down for a few seconds.
After Trade Thoughts and What I Learned:
- My lack of patience and conviction in the trade was a product of my entry which was a chase. This is why I traded it on the demo. It never broke down below my entry but I held conviction that it could given it was going to fight ascending resistance near $7. I should have waited for a structural pullback instead of a micropullback to hop on momentum.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2021-03-05 12:35:02 | EYES | buy | $6.800 | long |
2021-03-05 12:35:03 | EYES | sell | $6.890 | long |
2021-03-05 12:35:06 | EYES | sell | $6.830 | 0 |
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