RAIL Trade on Mar 26, 2021 12:15 from VadimT7: Tradervue User Stock Trades.

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VadimT7

 

Reason for moving:

  • Continuation day after good ER. The stock has momentum and can continue higher which it did.

Don't buy:

  • When I bought it when it broke the big uptrend on the 5-min chart. It then retested the upper resistance of the trendline and failed - this is when I should've sold if I bought (although I must not buy after the trend broke => it will go lower, so wait for selling to wean off).

  • On the 5-min chart, the price is already extended and it could pullback much lower to like 50% of the whole trend.

  • The price is in a clear downtrend making lower lows and highs => thus I need only the strongest demand levels as these are the ones to reverse the trend.

  • Very Important: On the 5-min chart, the green candle was on lower buying volume than the previous red selling volume. This indicates no follow-through or no interest from buyers and thus, don't buy the pullback. It also rejected a supply zone.

  • Also, if the price is approaching slowly a demand level while in a downtrend and no buying volume appears, and it's lunch, and the volume/price are still bearish don't buy the dip. It's likely to breakdown lower.

           #### Wait for it to break the trend! 
    

Exit:

  • On the pullback add, if the price continues to go down and selling volume increases and buying volume doesn't show strength and it breaks the 1-min clouds, get out of the trade as it's bearish, especially if it rejected some sort of resistance or supply zone.

Say to yourself: What would be the price at which I would know that the trade didn't work and that it will continue lower?


Execution detail:

Date/time Symbol Side Price Position
2021-03-26 12:15:26 RAIL buy $6.230 long
2021-03-26 12:19:57 RAIL sell $6.360 long
2021-03-26 12:21:04 RAIL sell $6.440 long
2021-03-26 12:22:56 RAIL buy $6.360 long
2021-03-26 12:34:39 RAIL sell $5.923 0
2021-03-26 12:48:03 RAIL buy $5.820 long
2021-03-26 12:50:00 RAIL sell $5.820 0


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