ESU1 Trade on Jul 9, 2021 09:55 from Kingkillabee: Tradervue User Stock Trades.

Managed Right

Reason for entry: On the 5 min, there was an 8 point range break 15 minutes after the open with some weak follow through. I took a limit order entry at the close of the follow through bar. There were several points of confluence pointing to a measured move:

~Measured Move (MM) from height of range
~MM from breakout bar height
~MM from entire bull leg
~MM from height of broad bull channel (not drawn on 2nd pic)

My target profit was set to the first MM.

Stoploss: Normally, I would place my stop at the beginning of the bull leg in a situation like this, but today I didn't. I placed my stop at 4335.50 (beneath the breakout pullback bar). My thesis was that we were in a breakout above the range, and if we reversed back into the range, we would no longer be in a bull breakout and there would be no reason to hold to the bottom of the range (also probably means bears would be in control and it would break down to the bottom of the bull channel).

What could have been done better: I shouldve traded with more size because I had a set stoploss and was not going to scale in.

What was done well: Seeing all the confluence and acting quickly.

What was missed: I dont think I missed anything, other than the opportunity to trade larger.

Emotions: Calm and confident we were going higher. I think I was a little bit emotionally shaken from several dumb mistakes I made yesterday, which kept me from trading with appropriate size. I could've made over $650 on this trade if I had done the right thing.

How could I have responsibly made more money: Traded larger.