Tags:
Strategy: CVA Re-acceptance PB Trade
Expectation: A potential strong move to the upside and traversal to the highs of the CVA
After waiting a bit longer for another opportunity, the market returned to the lower side of the CVA and retested at the 13060. After a small close beach the CVA low (small red candle) followed by a few wicks to the downside, we created a weak low and rallied back into the level. I got filled in a few empty spots on the tape and wrote down "Process/Profits". The market began to make a doji, got two points above my SL and then rallied to the 70s, it had serious trouble getting above the seventies but when it did it ran and ran quick.
My TPs were all at previous swings highs, outside of my standard 2:1 R:R. I did get a bit lucky here as I got a top tick exit on my last target at 113.25, I didn't even realize it at the time. If I didn't get filled, I would have had to wait another couple of minutes to get filled on my TP. This is another example for me as to why I should no longer move stops when chasing larger targets.
Execution detail:
Date/time | Symbol | Qty | Price | Position |
---|---|---|---|---|
2022-04-27 11:11:37 | MNQM2 | 5 | $13060.25 | 5 |
2022-04-27 11:11:37 | MNQM2 | 5 | $13060.75 | 10 |
2022-04-27 11:11:38 | MNQM2 | 5 | $13059.00 | 15 |
2022-04-27 11:12:14 | MNQM2 | -5 | $13071.50 | 10 |
2022-04-27 11:13:12 | MNQM2 | -5 | $13088.25 | 5 |
2022-04-27 11:13:20 | MNQM2 | -5 | $13113.25 | 0 |
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