Shared by
TraderJon
The set-up: JLine Rejection 60M Chart
What I did Right: Entered at the right time. Took profits on 1/2 position at 2R. Closed the remaining at the 61.8% Fib Retracement level.
What I did Wrong: I missed a short entry opportunity on the 5M Chart.
Where I could improve: Bigger size on the initial option position. Better focus so I don't miss the trade entry on the 5M chart.
Trade grade: B
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Big-picture: Market broke down on the Consumer Confidence data miss. AMZN broke down through the 60M JLines setting up a JLine Rejection trade.
Trade parameters:Enter short on the move down through the 60M JLines. Set stop above last relative High.
Entry:112.18
Trade Management:Covered 1/2 postion @109.85
Exit: @108.14
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2022-06-28 10:17:14 | JUL15 22 112 PUT | buy | $4.100 | long |
| 2022-06-28 11:19:21 | JUL15 22 112 PUT | sell | $5.100 | long |
| 2022-06-28 12:24:29 | JUL15 22 112 PUT | sell | $6.320 | 0 |
Comments
Greekstrader
jtraderco
Perfect FFT with inside bar on 5m chart
esneed
Did the same thing, except I bought in after you during that consolidation, just didn't trust it though when was having trouble coming out the bottom. sold and watched it dump, lol.
esneed
btw you should add the 9 and 20 ema to those charts
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Great trade. Nice job