FUBO opened above a used 30m Demand zone and bounced off it in the first 3 minutes. This zone was at $26.03.
A used 15m supply zone was rejected at 9:45 and price retreated back to demand. After consolidating there around 10:12, price made a move from 25.90 to 26.20. I felt this was enough confirmation to enter long at 26.15 with a SL at 25.90 and a TP level at 27.15. This gave me a 4:1 RR.
After getting filled at 10:29, I stepped away from the computer. I planned on this being a swing trade based off SD levels, the first time not day trading the SD strategy. When I returned to my computer at 10:45, I was suprised to see price already below my stop and I got out.
Lesson Learned: Be aware of a stocks ATR before determining if you are entering a swing or day trade.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2021-07-23 10:29:20 | FUBO | buy | $26.150 | long |
2021-07-23 10:45:39 | FUBO | sell | $25.710 | 0 |
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