The set-up: ABCD Flat Top Wedge SCALP
What I did Right: Shorter SL for better R/R, good setup, good multi time frame alignment, sold into volume, took last piece when weakness showed
What I did Wrong: Trade at end of day on Friday where there's usually nothing going on, missed peak, setup not perfect
Where I could improve: Start backtesting Fib Ext for potential price targets
Trade grade: B
-------------------------------------
Entry: 4.80
Stop Loss: 4.69
Trade Management: Decent
Targets: 4.87
Actual Exits: 4.83, 4.84
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2022-11-11 15:28:47 | TLS | buy | $4.808 | long |
2022-11-11 15:31:18 | TLS | sell | $4.842 | long |
2022-11-11 15:31:18 | TLS | sell | $4.842 | long |
2022-11-11 15:33:19 | TLS | sell | $4.832 | long |
2022-11-11 15:34:08 | TLS | sell | $4.840 | 0 |
in ABCD pattern you entry in in D not on C or B let the stock form A and B in Pull back C enter that is good entry your in enter in D the top of the pattern
i trade the same stock with same setup around 10 but my stoploss was to close and stop out i have small account cause this i cant risk to much
my entry was 4.32 around the wap i stop 4.29 and next time entry around 4.3 stop second time tls break down from vwap after that it move 80 cent from my entry point
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R/R Risk 3 to Reward 1 stop loss 4.69 and target 4.87 Entry 4.80