GE Trade on Jun 3, 2021 12:19 from tjmiller2001: Tradervue User Stock Trades.

GE had 30 Minute Supply at 14.34 so I was watching to see how that level was treated. Around 10:40 it double topped within that zone and then moved down from it. I wanted to get short on a retest.

Sellers stepped in from 12:00 - 12:10 and I planned a trade with a 4:1 RR. I was just barely filled at the top of the 12:19 candle before the downtrend started. Great entry.

As it started working for me, I adjusted my stop loss. The contracts did not have much of an implied move on them at all. With this low IV, I was fine holding them for a while.

I was keeping in mind SPY's weakness during the trade, good to have overall market context in mind.

I had to leave my computer screen at 1:11 to get lunch with the family so I wouldn't be able to use my laptop to trade anymore. I knew it would be tougher to manage this position on the phone app.

At 1:29 I got out when 14.22 broke. Exited during the peak. Got out before my short thesis was proven wrong, price was still respecting a descending trendline from 12:00 - 2:30

Lesson Learned: Exit when your thesis is proven wrong instead of getting out prematurely.