Shared by
Dandres
PREMARKET
- AMD was mentioned in the bear bull traders live scanner review on youtube. No new news besides the news of MSFT and AMD partnership the previous day.
- I did not look too closely into the float, ATR etc...
OPEN
- Was watching AMD develop this resistance consolidation around the $87.80 level.
- TRADE 1: Got in on 2, 1 min candle confirmations showing a reversal intention after several bull candles. This might have been hasty because the 5 min candle didn't even develop at the time yet. I would have shown me that it wasn't going to work out lol. Got stopped out 60c loss.
- TRADE 2: Got in again and this time it was definitely ignorance. Even the 1 min candles were trending higher and higher so there was 0 indication to get in. Stopped out again 60c loss.
REFLECTION
- Trading the consolidation really could go either way. In the end AMD traded higher and higher, never came back down.
- Good that I respected the stop loss but the first stop loss would have been the best if I had just been patient lol.
- There clearly wasn't any 5 min confirmation. 1 min candle action can be so misleading the 5 min will tell you the overall bias in that time.
- WAIT on CONFIRMATION!
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2023-05-05 09:56:40 | AMD | sell | $87.480 | short |
| 2023-05-05 10:01:26 | AMD | buy | $88.080 | 0 |
| 2023-05-05 10:10:14 | AMD | sell | $87.570 | short |
| 2023-05-05 10:12:11 | AMD | sell | $87.410 | short |
| 2023-05-05 10:20:23 | AMD | buy | $87.880 | 0 |
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