CLF3 Trade on Nov 17, 2022 18:07 from Nanou2012: Tradervue User Stock Trades.

Trade Analysis

Technicals: when the move retraced back to my blue dotted line, a.k.a an entry signal I went long with 2 contracts at 81.69 and my stop ticked behind the line. My first target at 81.94 and my grandiosity kicked in + PNL to catch up + lesson from yesterday and I put my second target just below 23.6% retracement at 82.76 hoping for a miraculous boom up.

Outcome: 1st target was reached ($250)and I moved my stop closer to entry at 81.60. My second target was never reached as it was unrealistic given the lack of enthusiasm for a reversal today as compared to yesterday and my stop was hit at 81.89 ($200) with an MFE at $650.

Post mortem: This was a good entry but a poorly executed exit. I traded the PNl rather than the chart and should have flattened way before my stop got hit.