Shared by:
nugrahaa1
Reversal candle and confirm.
Short entry (still too early) at 73.5. Stop loss 73.86 Target at 75 (the closest S/R).
Target reach and filled...
After the morning thin trading, did not think this will run for easy 1 dollar then another 1 dollar :-)
Execution detail:
Comments
nugrahaa1
Yea, just honor the stop loss. But still, it was quite a mental.
And when it moving down, each candle kept having bottom bought back until 75.0.
Thats the reason i am not scaling out... 50 cents move is the point i can handle my emotion, thinking price will bounce quickly after that. Otherwise in 2 more candle is the easy run down all the way.
Oh yes, when that kind of spike happen, check the volume. If volume is low (like in this case) it probably a dead cat bounce, thats the reason i stay beside honor the stop loss.
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nice trade...I probably would have gotten shaken out on that spike up after you sold short!