Shared by
efernandes
PM runner on high volume.
When it looked like it cracked and recovered multiple time, I thouhgt it would squeeze.
I kept getting stopped out and recovering so I would buy again.
Ended up failing and fading the rest of the day.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2021-09-20 11:07:00 | ZIVO | buy | $7.579 | long |
| 2021-09-20 11:08:00 | ZIVO | sell | $7.370 | 0 |
| 2021-09-20 11:14:00 | ZIVO | buy | $7.390 | long |
| 2021-09-20 11:19:00 | ZIVO | sell | $7.140 | 0 |
| 2021-09-20 11:24:00 | ZIVO | buy | $7.341 | long |
| 2021-09-20 11:36:00 | ZIVO | sell | $7.100 | 0 |
| 2021-09-20 11:37:00 | ZIVO | buy | $7.395 | long |
| 2021-09-20 12:14:00 | ZIVO | sell | $7.230 | 0 |
Comments
efernandes
Yes, instead of using a better support level in the 6.5-6.6 area, I was anticipating it to breakout of the range so was using the mini support from few mins. That is why I kept getting stopped out on the wicks.
My 1st buy was when it broke the downward trend from PM and morning highs. After that I was biased that this has to breakout so whenever it would recover, I would get annoyed and buy again. Again, I was using a bad stop level so I would get stopped out.
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On the two minute chart you kept getting stopped out on bottoming tail candles which indicates to me that you're stops were an arbitrary number of cents rather than based on a particular level. Were you buying for breakouts? Not seeing a rationale to your buying either.