To be honest the strategy was pretty good, except for one caveat
Gapped up on good earnings, looked like a good trade
Traded off the 5 min chart, saw the first 5 min candle drop and test the 9ema and 20 ema, entered on the test. honestly, the entry was golden. Placed stop underneath the EMAs
What I didn't do was look at the 1 min chart, for that multi-time-frame confluence. Well, the 1 min candles was underneath the 9 and 20 EMAs. This is a no-no. Need to make sure both 5 min and 1 min time frame's are both above those EMAs before I trade next
If I had hot keys, would have gotten out of trade as soon as I saw a lot of red on the Tape. Held because it didn't trigger my stop
Finally got out at break-even when price came back up because it just wasn't acting right, not moving up with momentum. Looked like that was a good idea after all
6/10
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2021-11-09 09:34:07 | ATER | buy | $7.840 | long |
2021-11-09 09:40:15 | ATER | sell | $7.840 | 0 |
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