The set-up: Reversal at demand zone.
We had a amazing and strong GAP UP after getting CPI and Inflation data BETTER then expected and seeing whole market is mooning and my stock in play as well.
Looking at UNH again, where SPY accepting opening priced level. UNH also having a reversal trend at demand zone. Seeing my A+ Setup is right here, I decided get OTM contracts. Going LONG at 541.63, where I risking 63c (SL 541) and target reward $545.25.
After waiting price meet my target R/R. I sell my position and taking 5R play. 36% ROI
What I did Right:
1) Trading based on my pre-market plan
2) Trading when seeing my A+ Setup
3) Getting multiple confirmation/ timeframe/ level before enter the trade
4) Pre-define my risk/reward before enter the trade.
5) Let my trade work based on R/R plan after enter.
What I did Wrong: NONE
Where I could improve:
1) Adding Size
2) Pre-define my A++ SETUP, so I could scale my position to the next level.
Trade grade: A+
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2022-11-10 09:51:55 | 11 NOV 22 545 CALL | buy | $2.900 | long |
2022-11-10 10:00:17 | 11 NOV 22 545 CALL | sell | $4.000 | long |
2022-11-10 10:00:37 | 11 NOV 22 545 CALL | sell | $3.950 | 0 |
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