5-minute Pullback: Failed to identify the 1-minute head and shoulders on the first 5-minute pullback at the open, clues for this are likely the topping tail (shooting star) candle on the 5min. Smart to cut it quickly before the VWAP breakdown.
5-minute Curl: Clear as day setup with the 5min bottoming action (hammer candles and declining volume). Setup confirmation as it makes a new high on the 5min with increased volume. Entry signal came from the first 1min candle to make a new high combined with the 1min hammer after the confirmation. Holding patiently as it consolidates around this level and then resolves higher. Sold quickly at VWAP due to current market conditions and just trying to lock in base hits. I've also been caught in several harsh VWAP rejections recently. Continued to watch and got back in two more times looking for the continuation on the curl and break of morning highs, but got chopped up twice only to have it break and run to $7 without me - the trade I was really looking for. Can't be upset with the profits and reassuring that I had the right idea, just wrong timing.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2021-10-06 09:46:00 | ANY | buy | $6.700 | long |
2021-10-06 09:46:00 | ANY | buy | $6.700 | long |
2021-10-06 09:46:00 | ANY | buy | $6.700 | long |
2021-10-06 09:46:00 | ANY | buy | $6.700 | long |
2021-10-06 09:49:14 | ANY | sell | $6.580 | 0 |
2021-10-06 10:12:09 | ANY | buy | $6.400 | long |
2021-10-06 10:22:45 | ANY | sell | $6.520 | 0 |
2021-10-06 10:51:58 | ANY | buy | $6.580 | long |
2021-10-06 11:03:56 | ANY | sell | $6.600 | 0 |
2021-10-06 11:12:01 | ANY | buy | $6.570 | long |
2021-10-06 11:16:53 | ANY | sell | $6.600 | long |
2021-10-06 11:16:55 | ANY | sell | $6.600 | 0 |
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