R = REQUIRED
1. (R)40-60% retracement from high-count from lowest point, including wick✔️
2(R)market cannot be downtrending or falling(SPY AND QQQ)exception if stock shows RS✔️
3. (R)stock is touching or above VWAP ✔️
STRONG PATTERN BOOSTERS:
4.No double tops/strong resistance above 🚫 | one I did not see
5.non-steep decline(ideally 45 degrees)✔️
6.hammer/doji at the bottom🚫
7.bottoming tails on nearby bars, avoid topping tails on nearby bars✔️
8.breaking out/strong overall market 🚫/✔️
9.tested minor previous price support(top of last move)🚫
10.Strong daily chart(gap, open void, breakout, etc)🚫🚫🚫
11.good R/R (2R) to the next resistance or closest pivot✔️|if I had gotten proper entry
12.no choppy bars on the way up or down(smooth move)✔️/🚫
13.VWAP rejection🚫
14.made a new major new high✔️
15.high volume on entry(green volume)🚫
16.sharp V top, rather than congestion or consolidation at highs ✔️
17.Above any trendlines✔️
18.Strong momo on the way up(wide range green bars, hammers)✔️
19.Confirmation or bull pattern on higher timeframes🚫
20. No engulfing red bars or huge red bars at top pivot ✔️
Management Results:
1R AON: +1R
2R AON: -1R
3R AON: -1R
4R AON: -1R
2R Move Stop to BE at 1R: 0R
3R Move Stop to BE at 1R: 0R
Time Frame Taken: 2m Chart
Retracement Level: 45%
NOTE: missed target by a few cents
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2021-04-08 11:54:10 | UAL | buy | $58.990 | long |
2021-04-08 13:14:14 | UAL | sell | $58.880 | 0 |
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