TRADE IDEA - (TREND TRADING, BREAKOUT AND BREAKDOWN, REVERSAL TRADING, MOMENTUM TRADING, GAP AND GO)
PLAY IDEA/SETUP - CONSOLIDATION RANGE
REASONS TO ENTRY (ENTERED CLOSE TO A SUPPORT/RESISTANCE THAT WAS HOLDING, RECLAIM WICK OFF POINT OF INTEREST) - #1. GOT SHORT AS WE SHOWED WEAKNESS AND MAKRETS WERE SELLING OFF AND TESLA WAS EXTREMELY WEAK, SHORTED AT RESISTANCE HERE AND RE-ENTERED AFTER WICKED OUT
REASONS TO EXIT (EXIT AT SUPPORT/RESISTANCE WALL/EXTENSION, LARGE OFFER, VOLUME DROP OFF) - #1. DESPITE EXIT ON FAKE BREAK OVER CONSOLIDATION RANGE, GOT SHORT ON LOD BREAKDOWN HERE AND GOT OUT AS WE EXTENDED DOWN INTO 130.5 HERE AND STARTED TO CRACK BUT SLIGHTLY POPPED ABOVE AND GOT FLAT
PT - #1. IDEALLY 130, BUT 131 AS W EEXTENDED HERE FROM LOD BREAKDOWN
MARKET CONDITIONS - #1. MARKETS SELLING OFF FROM PPI AND REALLY BREAKING DOWN
TAPE (AROUND SIGNIFICANT AREAS) - #1. REALLY SPED UP HERE ON THE BREAKDOWN, MOVED DOWN INTO 130.5 AND WAS STILL WEAK RETESTING 131 AND THEN BREAKING INTO NEW LOWS REALLY RIPPING PAST 130 AND THEN RECLAIMED
REFLECTION - #1. NICE SETUP SHORT HERE AND REALLY BROKE DOWN WITH MARKETS HERE, REALLY NICE MOVE LOWER HERE AND NICE TRADE,
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. GOT STOPPED OUT ON FIRST TRADE BUT NICE RE-ENTRY
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. NICE SETUP HERE WITH TIGHT RISK AND NICE CONTINUATION
BUILDING A NETWORK / STAYING UP TO DATE WITH MARKET TRENDS, NEWS AND DEVELOPMENTS - EDGE, UNIQUE TRADE STRAT,
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2023-01-18 10:35:28 | TSLA | sell | $132.650 | short |
2023-01-18 10:42:04 | TSLA | buy | $130.590 | 0 |
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