TRADE IDEA - (TREND TRADING, BREAKOUT AND BREAKDOWN, REVERSAL TRADING, MOMENTUM TRADING, GAP AND GO)
PLAY IDEA/SETUP - EARNINGS - TRIANGLE PATTERN
REASONS TO ENTRY (ENTERED CLOSE TO A SUPPORT/RESISTANCE THAT WAS HOLDING) - #1. GOT LONG HERE AS THE HORIZONTAL SUPPORT AT 9.9ISH AS WE CREATING A TIGHTER CONSOLIDATION AND TRIANGLE PATTERN
REASONS TO EXIT (EXIT AT SUPPORT/RESISTANCE WALL/EXTENSION) - #1. GOT 30% OUT AT A BREAK OVER HOD
-#2. TOOK ANOTHER 30% MORE AGGRESSIVELY HERE AS WE EXTENDED HERE INTO 10.50 AN AREA WHERE ORDERS WERE WAITING, TRAILED THE OTHER 30%
-#3. TOOK ANOTHER 15% ISH OUT AS WE CONSOLIDATED TIGHTLY AND BROKE OUT HIGHER UP ITNO 10.55 AND THEN RIPPED UP INTO 10.64
PT - #1. HAD TARGETS AT NEW HOD AND CONTINUATION, 10.5 LEVEL AS WELL AS ANY EXTENSION HERE HIGHER
MARKET CONDITIONS - #1. MARKET CONDITIONS DURING THIS TRADE, MARKETS WERE MOVING HIGHER, HOWEVER XPEV WAS SHOWING RELATIVE STRENGTH HERE NONE THE LESS
TAPE (AROUND SIGNIFICANT AREAS) - #1. WAS SEEING BUYERS COMING IN AT 9.9ISH AND TOOK LONG ENTRY HERE
-#2. DECIDED NOT TOO FOCUS AND MICOR MANAGE TOO MUCH ON THIS TRADE, LET THIS TRADE WORK OUT AND WAS BEING PATIENT, SCALED OUT ON THE BREAKOUT CONTINUATION HIGHER
REFLECTION - #1. NICE TRADE THAT WORKED OUT NICELY, HAD SOME TIGHTER RISK HERE AND GOT A NICE UPSIDE CONTINUATION MOVE HERE - 4R HERE BUT COULD HAVE BEEN AROUND 5 - 6 R IF I HAD A CLOSER ENTRY NEAR MY STOP LOSS WHICH WAS THE 7:30 CANDLE LOW - 15 CENTS
MISTAKES (DON’T GET UPSET AT LOSSES, BUT GO BACK REVIEW AND MAKE SENSE OF WHAT WENT WRONG WHY DIDN’T THE TRADE WORK AS YOU EXPECTED IT TO AND ONCE YOU FIND THE SOLUTION YOU WILL FEEL MUCH BETTER) - #1. NO MISTAKES, WAS FOCUSED ON TRAILING THIS MOVE HERE AS WELL AND WAS BEING PATIENT, GOT NICE EXITS HERE INTO THE CONTINUATION MOVE HIGHER
-#2. I THINK MOVING FORWARD, I SHOULD FOCUS ON THESE TRADES WHERE I CAN HAVE TIGHTER RISK, EVEN IN THIS TRADE, I CAUGHT SUCH A NICE MOVE HOLDING MY WHOLE POSITION BUT ONLY CAUGHT 3.4R. NEEDED A CLOSER ENTRY TO MY EXIT SO I COULD GAIN 5R - 6R
IS THIS STRATEDGY WORKING OR NOT? PROBLEM? SHAKEN OUT TOO EARLY, RIGHT TRADE WRONG TIME, TOO TIGHT STOP LOSS?
WAS THIS A GOOD SETUP, DID I EXECUTE WELL, DID I FOLLOW MY PLAN, WAS MY MENTAL IN TACT? #1. YES NICE SETUP WITH STOCK IN PLAY FROM EARNINGS AND CLEAR PATTERN, NICE TRADE SETUP HERE, BUT DEFINITELY NEEDED A HIGHER R:R HERE, WHICH ONLY WOULD HAVE COME FROM HAVE A CLOSER ENTRY TO MY STOP LOSS
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2022-11-30 11:16:05 | XPEV | buy | $9.970 | long |
2022-11-30 11:45:34 | XPEV | sell | $10.380 | long |
2022-11-30 11:48:50 | XPEV | sell | $10.500 | long |
2022-11-30 11:51:32 | XPEV | sell | $10.550 | long |
2022-11-30 11:51:46 | XPEV | sell | $10.640 | 0 |
You need to log into your Tradervue account to leave a comment. If you don't have one,
it takes
just a few seconds to sign up, and it's free!