Daily setup: $79/80 range break
Intraday Setup: Not great, second 2 minute candle pivot w/ break of daily level
Gapped above level. Bought w/ pivot on the 2, 5 minute doesn't look great at this point. Added w/ 2 minute ORB, risk beyond parameters. Kept 1st 1:1 target, as in I did not move further with the average in. Sold at the 50c increments. I moved stop up to pivot ahead of JOLTS, but 8 hadn't caught up yet. Hot number so may have been a good idea. Bought back lower @ the 8ema, only the core, so I can take the difference (bit of price improvement). I placed my stop on this re-entry at the original LOD. During trade thoughts (for my review): Do I put a stop at the pivot attempt, can't seem to hold back over VWAP. It's very hard to trade successfully with only 1-2 lots. 1.75 gain and not able to sell and hold some, or could sell all and hope for a pullback to re-enter. Target last lot is 85 area; could do 87 for top of range. Trailed the last lot with the higher lows on the 15, worked perfectly. Held 1 lot for swing. This really didn't have the relative volume to support the move, glad it worked. Semis were strong sector today. It is very hard to watch the $1 pullbacks, really tests the patience to have good trailing strategy.
3.9 - did not have order out for target, came close enough on the opening drive I could've closed. Glad I didn't scare myself out and was patient for it to get to target.
Layers of probability: Clear daily level, inside day, relatively strong daily, just keeps stairs stepping up since 2020
Entry: Best price vs opening low, pivot candle on the 2, added w/ 2 minute ORB
Stop: LOD (need to start considering if LOD appropriate on this early entry w/ 8ema not caught up to lows.
Targets: 80.5, 81, 85
Successes: Great early entry, recognize strength, great add/back price improvement, good patience holding and trailing.
Areas to improve: Lower probability trade w/ out volume and market help
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2023-03-08 09:33:00 | ON | buy | $80.060 | long |
2023-03-08 09:33:00 | ON | buy | $79.900 | long |
2023-03-08 09:37:00 | ON | buy | $80.200 | long |
2023-03-08 09:39:00 | ON | sell | $80.490 | long |
2023-03-08 09:39:00 | ON | sell | $80.940 | long |
2023-03-08 10:01:00 | ON | sell | $80.590 | 0 |
2023-03-08 10:02:00 | ON | buy | $80.300 | long |
2023-03-09 10:10:00 | ON | sell | $84.950 | 0 |
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