Shared by:
Mfinab
Execution detail:
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Shared by:
Mfinab
Execution detail:
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Trend analysis:
I can see that you decided to go long here from a potential bottom on trade #1.
When trading bottom reversals you should only go long after you've confirmed an uptrend (Higher highs and higher lows).
For Trade #2 you decided to go long from a bottom reversal again but you did not confirm a higher high and higher low.
You should only go long on trades after you've verified a higher high and higher low on the setup.
Multiple time frame analysis:
According to the hourly chart this stock did a huge gap down into parabolic selling, so looking for a bottom reversal trade setup here was appropriate, however to go long you must verify a higher high and higher low first.
Confluence analysis:
-15m chart: Inverse head and shoulders bottom reversal setup
Lack of confluence.
In the future you should trade based off on full retracements.
Enter on the breach of highs and set stop-losses at significant low levels.
Price action:
In trade #1 you decided to go long on bullish price action but there wasn't enough confirmation.
In Trade #2 you decided to go long on bullish price action but the retracement upwards failed.