DIS Trade on Jun 24, 2021 11:51 from tjmiller2001: Tradervue User Stock Trades.

DIS has 30m Supply at 178.00. This level was used on 06-24 but never before that, so it was a lightly used zone.

I traded this level earlier on 06-24 and it was a loss for me. It double topped inside of that supply zone and came back out of it. I was considering getting short on the retest.

Green candles from 11:39-11:46 suddenly stopped and price consolidated right under 178 for a few minutes.

A large red candle occurred at 11:49 with increasing volume. Then at 11:50, a red candle with abnormal volume closed. This 1m candle traded 85,000 shares compared to the previous candle with 11,000. Also, this was the highest 1m candle volume other than the opening minute at 9:30.

I got in short at 11:51 with a 3:1 RR. My entry was after 177.80, an old intraday support then resistance level, failed as support.

I got out at 11:57 when my PT was hit. There was no real strength present, I just wanted to stick to my rules and get out. After my exit, I decided nothing could make me reenter short because a strong down move just occurred. I felt that the odds were not in my favor for it to keep moving down without a retracement upwards.

I did a good job following my rules with this trade. However, the volume spike should've been a clue for me to size up. I would've liked to have a contract to let run until buying strength appeared. When I got out, I felt that I only did so bc my PT hit, not bc I had a Reason2Sell.

Lesson Learned: Size up when you see a volume spike near a SD Zone. Give yourself a contract to scalp and another to hold for a bigger picture move.