Shared by
Dandres
One of those stocks that you watch
Open
- Very strong break out after several minutes of consolidation below the 177.5 - 176.5 range, first entry on the break out on tons of volume, equally strong retraction, the chop caught me out on this one.
Reflection
- 3 indicators? Yes, break out on the bottom of the range failing to break down towards PDC + high volume
- Scaling? No, only one entry.
- Partials? No. Did not resolve.
- Risk management? FIrst entry only, didnt jump the gun on another position due to no additive indication.
- What went right/wrong? Trade idea was valid, could have easily squeezed up on those trying to short the bottom side range break which did not resolve. (Bears would have covered their positions and squeezed up the price, which it did but the bulls didnt jump in to turn the squeeze into a trend.)
- Successful trade? Yes, trade called for and risk management fine on this at the break of 177 again.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2024-03-28 09:43:14 | TSLA | buy | $178.046 | long |
| 2024-03-28 09:44:45 | TSLA | sell | $176.892 | 0 |
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