Re shorted pops once 1 support broke, looking for a little pullback off the morning spike. Choppy fade. Took off into first big dip, safe profits. S2 fade, Failed L3 leg 1 bull flag that couldn't hold support. ADDS (on) : 1 - 1.01 (1000), 2 - 0.98 (5000), 3 - 0.97 (5000). COVERS (off) : 1 - 0.824 (10,000), 2 - 0.83 (1000)
Shorted the spike looking for the S2 fade after squeeze/halt. Don't like this setups because it does not fit my criteria with support in the 0.90's. Took off because $1 was holding and looked like it was forming a bull flag. Small losses, willing to scale back in on pops if 1 breaks.
Perfect S5 leg 2, Had the rejection/ reversal pattern in the morning and was hanging around the lows all afternoon, We got the crack and panic right down into support in the low 6"s. I took safe profits and covered too soon but beautiful g/r leg down. Very comfortable with this pattern, should have played it with larger size.
Shorted Para spike for S2 fade. Daily chart had a multi-day breakout chart. Very dangerous to short anything that is breaking out on the muti-day level, all dips usually hold, too much support on the way up. Took off after first dip because this was holding up. Bad risk reward this could have spiked hard and squeezed me.
Lucky to get out of this alive. Wanted to enter at top of mid day bounce in morning after huge S5 leg 1, but missed initial entry. Looking for S5 leg 2, 3pm crack in afternoon, Entered too way too big too soon into weakness at 12.80 and had to average up into my risk level at 13.25. I respected my risk level at 13.25 as it held up perfectly. Should have entered smaller size because it was weakness and been more patient on my adds. Covered into the dips right when it cracked back down to support.
S5 leg 2 - S6 , gap down. This fits the range theory pretty well. Should have averaged into the little bounce/ perks at end of day instead of short into weakness under 13 where all the support is. Didn't violate rule number 1 here that much because its support to take out support but still could have gotten a little bit of a better entry. Gap down was perfect and it faded, nice at open, should have held longer,
This trade was the second red trade I had on the day. Violated soo many rules here. 1)Broke my #1 rule again on shorting, never short into weakness thinking support will break. 2) I was averaging up into pops playing way to big size. 3) Risk/Reward was (0.40:1) not (3:1), heavily not in my favor. It would have been more in my favor to go long. ADDS (on) : 1 - 13.36 (2500), 2 - 13.71 (1000), 3 - 13.80 (1000), 4 - 14.10 (1000) COVERS (off) : 1 - 14.01 (2500), 2 - 14.08 (3000)