Shared by
Angelrose
T2: BABA/LONG
Parabolic Reversal: - Last two red candles gave clues of this reversal with long wick within 2 mins before my entry.
Indicators: Stock extended from EMA 9/20 on the 5 min chart.
Confirmation: Reversal candles on 1 min chart.
Entry Signal: New 1-min high
Stop Loss: Break of the low of the previous candle.
Target: 1st partial on EMA 9 but since new white candle is formed with rushing in with buyers on level 2, I partial small amount and expect the ride through another cycle or two with 2-3 candles minimum.
Rules: Once a partial is taken, the trade should always be exited at break-even.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2022-03-22 09:53:35 | BABA | buy | $113.090 | long |
| 2022-03-22 09:54:05 | BABA | buy | $113.430 | long |
| 2022-03-22 09:55:53 | BABA | sell | $114.080 | long |
| 2022-03-22 09:59:17 | BABA | sell | $114.870 | long |
| 2022-03-22 10:00:08 | BABA | sell | $114.650 | 0 |
Comments
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nice trade