AMD Trade on Nov 15, 2023 09:36 from Dandres: Tradervue User Stock Trades.

One of those stocks that you watch

Open
- Wanted to start the day right and practice acceptance of whatever the outcome of my trades. This helped me get into the mindset of being purely technical in my trades and trade management...
- Took first short entry on watching the 5 min opening range on AMD develop a level right above 119.5. It developed a retract retest to the downside that came down to break the 119.5. Took my first entry and let the price action develop and sustain the broken level. Price action broke down and started moving sideways. It looked very positive on the 5 minute chart for a downside continuation so the plan was to scale in on either the 5 min closing and sustaining the level OR a retract retest move to break the 119 mini consolidation level. It did both... even better. Took second entry on the new 5 minute candle breaking the previous 5 minute candle low and an my final entry on an lower candle break below 119. Didnt want to overdo it because of my losses yesterday so I settled for the good average price. The price action broke down and I took my first partial at around 2R. The profit target was around 117.30, a level I had marked on my daily in the pre market. The price action kept giving supporting indicators for the downside continuation so I took my partials on the way down and got out at the bottom of the move, got out on the 1 minute candle bottoming out as dojis. Eventually reversed.
Reflection
- 3 indicators? Yes, first entry good.
- Scaling? Yes, additional entries on confirmation.
- Partials? At 2R and the rest towards the profit target.
- Risk management? Scaling called for, entries appropriately timed, emotions in check, good risk to reward.
- What went right/wrong? Trade idea was valid, trade was executed correctly.
- Successful trade? Emotions in check and traded the technical indicators, good.