Shared by
mrinvesting
Big Picture (Daily Posture) = BEARISH Distribution
Price trading below both 9 and 21SMA ...
Trade Catalyst:
Year-end selling momentum. Another weak close. Expecting continued selling tomorrow.
Set-up:
Close near LOD on 2min timeframe:
Trigger:
EOD 2min bearish candle
What I did Right:
1) Hedged LP w/ SP that expires this week to reduce Cost Basis.
2) Took profits within 24 hours
What I did Wrong:
FOMO entry on 2nd position the following morning. WAIT for a retracement into falling resistance of 200SMA
Where I could improve:
1)WAITING for bearish retracements so I get a better entry price.
2)Setting a clear profit target and stop loss for the position.
Trade grade: B
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2022-12-27 13:52:24 | 13 JAN 23 263 PUT | buy | $5.970 | long |
| 2022-12-27 13:58:25 | 28 DEC 22 261 PUT | sell | $0.6400 | short |
| 2022-12-28 09:30:52 | 13 JAN 23 263 PUT | buy | $6.300 | long |
| 2022-12-28 09:32:15 | 28 DEC 22 261 PUT | sell | $0.3600 | short |
| 2022-12-28 12:03:15 | 28 DEC 22 261 PUT | buy | $1.070 | 0 |
| 2022-12-28 12:03:15 | 13 JAN 23 263 PUT | sell | $7.470 | 0 |
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