NIO Trade on Jun 30, 2021 09:36 from tjmiller2001: Tradervue User Stock Trades.

NIO had 6h Supply at 51.30

It opened up and looked strong for the first two minutes. Then at 9:32 it rejected the 51.30 6 Hour Supply Zone with a red 1m candle. Consolidation followed and at 9:34 I wrote, "I like NIO short under 50.80."

This was the low of the 9:32 - 9:35 consolidation and I felt that a break below would act as a good entry signal. At 9:36 I was filled on my short on a wick under that level with a 3:1 RR.

Buyers immediately stepped in and pushed price above 50.80 support before the 1m candle closed, and buyers got stronger the next minute when I was stopped out at 9:37.

My reentry short would've been on a 1m close under 50.70. I would've been careful to avoid entering just bc a candle is currently below a level. Instead, waiting for the close would be appropriate.

Lesson Learned: Entry signals should not just involve a price being hit. Instead, add a time, volume, or momentum aspect to my entry signal. For example, I could say, "If price spends 45 seconds under 50.80 or shows momentum to the downside under 50.80 I will enter short."