Shared by
Ihor_Horovenko
Thesis: After previous failed attempt in VWAP breakdown, the price started to form big dog contraction pattern.
Stop: Placed my stop-loss initially below the low of the higher low of contraction and then adjusted to the point of candle's low which broke the contraction.
Entry: I have entered position inside the pattern as I had clearly identified the big dog contraction itself. I felt like this could provide more edge and be much earlier in the position. I wanted to see the breakout within 5 minutes after my entry. After the price did so, I have added to my position and adjusted the stop loss. I was very confident in this trade.
Targets: Pattern high and measured move of the contraction from the moment of breakout.
Breakeven point: -----
Comments: I liked the way I wanted to get bigger in this trade.
Lessons: Should watch the tape more.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2023-11-13 10:00:20 | BA | buy | $205.540 | long |
| 2023-11-13 10:03:22 | BA | buy | $206.100 | long |
| 2023-11-13 10:04:30 | BA | sell | $205.510 | 0 |
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