My idea was the 3x tap at breaking a pivot level and aggressively buying that break (aggressive since AM moves can be fast and unforgiving). 2x catalysts on the entry.
I used not only the pullback under the pivot but also the fail to hold VWAP as my hard stop. That was one positive.
I then saw the fail to reclaim the pivot and drew up a short order at 11.30. I hesitated just enough (coming off a 4 trade losing streak, bad mentality yes I know) that I said I would wait for confirmation... any flush and pause on the 1m. Next thing you know it flushes under last 5m low that it's now too risky for the reward that I waited for the bounce that never happened. Missed the short idea.
Lesson - mistake was the aggressive buy (FOMO). Had I not been involved, I would have noticed the failed hold over pivot/flat top, fail to reclaim then potential short on 5th candle. No reason to hesitate since I wouldnt have come off a loss. Just enough emotions here to cloud the judgment.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2016-12-08 09:45:13 | AKS | buy | $11.310 | long |
2016-12-08 09:52:00 | AKS | sell | $11.200 | 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!