Improvements:
- This was first trade of the day and a trend continuation trade with an entry on momentum as it broke above the prior day's closing range.
- The stock opened flat on the day and then had a flush off the open into the 172-level.
- The stock was held and put in a v-bottom and pushed higher.
- I had entered long on the strong momentum and the potential break of the pre-market range pullback AND the prior day's closing range.
- I had felt my entry was over extended however it was well placed below the EMAs on the 1-min chart.
- The stock had strong momentum higher and I had set my profit harvesting target at 2.5R.
- The stock had made a fast run-up to the profit target and I was filled.
- Here the momentum was so strong the trade would have significantly benefited from having a trailing stop being the price action using the 1-min OR the 2-min rule.
Notes:
- Good discipline in waiting for a trade setup to occur trade.
- The trade entry was good in terms of its location AND the placement of the stop.
- Profit harvesting needed to be more systematic and better managed as I had left too much on the table.
- Using a trailing 1-min candle the R:R would have ballooned out to 5:1 rather than the 2.15:1.
Range chart:
Range chart showing the trade's area of entry, profit harvesting location and how the stock was making fresh higher-lows which would could have been used to stay in the trade and use them for stop order placement locations under the price action.
https://prnt.sc/T7y-BZ8-DVa2
Actions:
Trade Technical variables:-
ATR:
Rvol:
AVol:
Beta:
Short:
Float:
Ins. Own:
WIC:
VWAP: