Plan
Max for the day $250
Max Loss for the trade $150
Why I Shorted
- I shorted twice on this trade by scalping
- First one I shorted because it hit my supply zone, and hit an important resistance line with a clear engulfing red candle showing weakness
- After covering the second short was done due to high selling volume and a clear vwap rejection
Why I Covered
- Showed reversal pattern with a double bottom/matching lows
- Buying volume candles
- qqq and spy started showing bullish properties
- near 3 to 1 ratio
- Hit the previous support area
What I did right
- risk management was on point
- the trade itself was well executed
- I did a good job scalping on those downtrends and noticing those reversal patterns
What I could have done better
- I should have paid attention to my supply and demand zones because if I had I would have gotten on my trades earlier
What I learned
- Pay more attention to the supply and demand zones
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2022-05-25 09:39:00 | PLUG | sell | $15.480 | short |
2022-05-25 09:39:00 | PLUG | sell | $15.410 | short |
2022-05-25 09:40:00 | PLUG | buy | $15.430 | 0 |
2022-05-25 09:47:00 | PLUG | sell | $15.280 | short |
2022-05-25 09:50:00 | PLUG | buy | $15.080 | 0 |
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