QQQ Trade on May 25, 2021 15:01 from tjmiller2001: Tradervue User Stock Trades.

QQQ had been downtrending throughout the day but was moving in an upwards channel from 2-3 PM. I wanted to get long at the bottom of the channel with the expectation that the trend would continue.

I got long at the bottom trendline with a 3:1 RR on contracts that were barely OTM and had 3 days to expiration. So I was exposing myself to less risk than my usual 0 or 1 DTE contracts.

Within 50 seconds I was stopped out as the trendline failed to hold. I did a good job getting out fast. I was disappointed to take the loss but I didn't have much attachment to the position which is good.

Lesson Learned: If the trend is down, look to short the resistance of a channel instead of buying the support of a channel. Let the trend be your friend