5-min Pullback: This is the second 5min pullback on this move. It looks like it gives back a little too much of the move up, but its not terrible. However, based on the criteria it actually fits as it bounced right off the 9ema, declining volume on the pullback, and volume increase on the entry. Unfortunately, it just fails. Risk factors are the divergence of price and volume as price increases and volume decreases and the doji on top with high volume signaling a reversal. Nonetheless, it does end up giving a quick trade.
1-min Micro Pullback: Worth a shot taking this based on the 1min, but I was late to cut it. As soon as a lower low was made it should have been cut due to the risk factors mentioned above and the current market not providing great momentum plays.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2021-10-07 10:15:07 | PALT | buy | $9.470 | long |
2021-10-07 10:15:31 | PALT | sell | $9.590 | 0 |
2021-10-07 10:17:24 | PALT | buy | $9.850 | long |
2021-10-07 10:18:45 | PALT | sell | $9.250 | 0 |
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