BABA Trade on May 12, 2023 09:52 from Dandres: Tradervue User Stock Trades.

Open
Trade 1: Took first entry short to the downside, candles showing reversal action soon afterward, very obvious that I could have gotten out way in advance before I got stopped myself out early. The trade was supporting the VWAP break to the upside so I flipped sides. BUT this was a mistake because the volume to the upside was much smaller compared to the downside candles.
Trade 2: Flipped sides and it was a false break out. 1 min candle shot down so there was no moment to clear out of the position before it flushed. The biggest indicator that this was going to fail was the consolidation candles on the 1 min chart on low volume and the very weak break over the VWAP. Adding on the consolidation candles was also a misplay, we add on clear confirmation even if it costs us a couple cents!
Reflection
- The candles on 5 min and 1 min did show reversal intention but the biggest red flag was the volume, I need to start watching this.
- Miscalculation #2 was scaling in way too quickly on consolidation candles, at most it should have only been 2 entries, one on the break of the VWAP, 2nd on the creeping 1 min higher highs/lows on the chart, the 3rd should have been AFTER the break of this consolidation in your favor on a pullback.
- Dont scale too quick, ON CONFIRMATION!