SE Trade on Mar 8, 2023 12:13 from Goku_BOWS: Tradervue User Stock Trades.

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Goku_BOWS

 

Little bit of a boredom trade, but high R:R, just low probability.
Daily Setup: None except extension from yesterday's runup
Intraday: Bearish wedge/daylong consolidation.

This really wasn't on my list to trade short, I had it on my list for a red to green this morning and while flipping through my watch-list I noticed the bearish wedge breaking to the downside. I marketed in and added a bit when it pulled back to the 8ema. Stop at the top of the breakdown candle. No volume to support the trade and IWM was at a major support level which could lead to the entire market getting a relief bounce. I traded small and figured if it could flush to LOD or more it would be worth the risk. Small loss

Layers of probability: Intraday setup, daily extension, market weakness
Layers against: IWM support, lack of daily setup

Entry:Break of bearish wedge, nice candle, no vol.
Stop: High of breakdown candle
Targets: 77.51 near LOD, then trail last half

Successes: Traded very small based on lower probability, stopped out and moved on, no revenge or mind set on shorting.
Areas to improve: avoid boredom and unplanned trades, better daily setup.


Execution detail:

Date/time Symbol Side Price Position
2023-03-08 12:13:00 SE sell $77.830 short
2023-03-08 12:16:00 SE sell $77.970 short
2023-03-08 12:22:00 SE buy $78.170 0


Comments

2023-03-09 07:01:01
 

Great execution and taking less risk on a lesser prob. trade

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