F Trade on Jun 16, 2021 10:17 from tjmiller2001: Tradervue User Stock Trades.

F has daily Demand at 14.91. That zone has a gap above it.

After the open, it took about 45 minutes to sell off to that demand zone. I felt good about a long entry there because the 10:15 candle had very high volume at LOD. That minute had the highest volume since 9:37. High volume at LOD made me think that could be an exhaustion move with a reversal coming soon.

So I decided to watch for buying strength after that. When the 10:16 candle closed as a large green candle, I looking for a fill on calls. I had a 3:1 RR here. The trade immediately reversed and closed under Daily Demand but above my stop loss.

I decided I wanted to get out above my stop loss because no bounce came in at demand. I figured I could reenter if I see strength. At 10:20 I was filled on my exit; I wanted out bc consolidation at the lows is bearish. I think this exit was smart.

Lesson Learned: Know when to cut a trade that is consolidating with the opportunity to get back in if a bounce comes.