72.24!! I had been stalking that level since yesterday . I did not enter then when it came to 30 ticks but I knew it would come back down to the -161.80% Fibonacci projection, that previous area of support. (See 1st chart copied from yesterday's journal)
I had only just opened my charts when I entered L2 at 72.28, and placed another order at 72.24 my number from yesterday. I do normally enter so soon after sitting down and i forgot to check a few items on my checklist incl. OCO and i entered L4 without an OCO in place.
I had highligted two take profit areas on my chart (see chart below)One at circa 73 and one at 73.80.
Profit with that strategy of TP*2 at 73 + TP*2 @73.80 = 2*73 + 2*153=452 ticks = $4,520
The reality:
I took profit on 2 at 72.60 when there was a @blip@ on the price movement and cashed in $600 and had another fat finger at 73, when I only wanted to sell 1 but closed the trade instead. See below:
It would have paid to stay on and the strategy as designed initially would have worked.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2023-12-05 13:19:09 | CLF4 | buy | $72.28 | long |
2023-12-05 13:20:43 | CLF4 | buy | $72.25 | long |
2023-12-05 13:33:38 | CLF4 | sell | $72.59 | long |
2023-12-05 13:38:52 | CLF4 | sell | $72.97 | long |
2023-12-05 13:39:18 | CLF4 | sell | $72.93 | 0 |
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