XLE Trade on Mar 18, 2021 15:55 from tjmiller2001: Tradervue User Stock Trades.

The energy sector has staged a dramatic comeback since November and pulled back today. I used this opportunity to buy the dip with the expectation that as data comes out that shows lots of traveling in the US, oil prices will rise. Demand will be high for travel this summer, my thesis is that oil companies will know they can charge a lot and people won't be deterred from a vacation because oil prices are too high.

Entered at EOD with a 3:1 RR

My SL acted as support on 3/22. It opened well below this level on 3/23. I didn't give it any time to show strength, I just listened to my rule and sold on the open, it ended up rallying way higher that day. I missed the reentry because I was getting on a plane to Hawaii. I'd like to think I would've reentered with LOD as my stop once I saw strength if I was actively trading that day. Large loss on this one.

Lesson Learned: Don't try to predict the price action of a whole sector. I may be right a few times, but sector ETFs don't care about technicals. I'm better off trading individual stocks that actually react to technical levels.