MNQM3 Trade on May 23, 2023 09:04 from Goku_BOWS: Tradervue User Stock Trades.

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Daily Setup: Common gap down in bull trend
Intraday Setup: Pullback to support on hourly, higher volume strong green candle
Layers of Probability: Hourly support, daily bullish trend, common gap downs have higher probability of getting bought.
Entry: No real candlestick technical entry; higher volume strong green candle premarket, and lows holding well during the open for the add
Stop: LOD once added and low put in
Profit Strategy & Targets: Cover risk @ 1:1 with 50%. Trail remaining contract for continuation on daily, 15 minute trail.

Thoughts/Thesis/Notes during the trade:
Common gap down in a bull market is a buy opportunity.
After hours was fairly strong faded to recent day's support area. High volume reversal candle for entry pre market.
Gap down is within yesterday's range, below that range would've been better and closer to the 8, I think.
High volume green candle that I entered on is negated and fade continuing, new lows.
Do I exit now and look for another entry, risk missing opening drive, or hold and add more lower. I put a bid in at 13810; Stop below 13800; Could be too tight and fade below and back above. Hourly support level
Initial low was holding for 2 minutes at the open, added with market in. Removed 13810 order

Stop LOD
Sold half in about a minute
No add-backs, may add with solid setup. RTY weakness concerning/worth noting

PMI at 6:45, decided to hold through, Stop in the system, may get wicked out.
Mild initial reaction, slight uptick, no new highs
Moved stop to bottom of PMI candle, few ticks below.
Stopped.

Areas of Success: Good opening action read and add, Good though process on moving stop.
Areas to Improve:
image


Execution detail:

Date/time Symbol Side Price Position
2023-05-23 09:04:30 MNQM3 buy $13848.75 long
2023-05-23 09:30:58 MNQM3 buy $13831.00 long
2023-05-23 09:32:34 MNQM3 sell $13855.00 long
2023-05-23 10:16:07 MNQM3 sell $13840.00 0


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