EYES Trade on Mar 5, 2021 10:18 from Jrow3: Tradervue User Stock Trades.

Trade Idea:
- Following my previous trade this setup was in confluence with that prior action.
- The ticker made a third low at $2.78
- I wanted to catch the anticipation of the pivot break at $2.94.
- This was a wedge/ABCD setup but not the most organized with clean movement on the L2 and T+S . Therefore it was a B setup and traded within my demo
Risk/Reward:
- Reward: First TP was at $3.00
- Risk: Low of current candle $2.85
Position Sizing:
- 100 shares (able to take a SL of $0.18)
- Kept this position size as I already failed twice with this ticker and wanted to keep my position small as I was obviously not seeing it all too clearly.
Trade Management:
- From my entry at $2.91 we saw this ticker push to $2.93 and hold on the ask. As it broke it subsequently easily passed $2.94 but found large relative size of selling pressure at $2.95.
- It ate through those sellers in sequence which was strong for the moment and tested 2.97 where it failed.
- If the stock truly were to prove itself it would have broken through .95 and held on the bid upon retest. Since it didn't I knew it was likely to retrace a bit (point where I should have sold)
- It straddled $2.95 once as it broke down but soon thereafter we saw it fail below my SL
After Trade Thoughts and What I Learned:
- This was a lesson in staying objective and present during my trade because there were indications that it was likely to fail before it came to fruition. I could have exited breakeven instead of a marginal loss. My next steps are to increase consciousness of staying more analytical throughout my trade so that I can quickly exit if needed and look to re-enter if it does prove itself.