daily chart was a rollover from yesterday, the chart yesterday was amazing and today was a continuation breakout so daily chart passes, very nice. 60m chart was also very good, consolidation in the PM/end of yesterday and today there was one big green bar rip, then a open at the high, came down to test VWAP and then came right back up to past the high of the previous candle with only a small topping tail and a rather big bottoming tail. so basically a bad hammer/good green doji. one of the better 60m charts, so far 2/2. 15m chart was kinda neutral, big green bar up, then a normal sized green bar and then an red bar that went back to the high of the first candle. I'd say it was a tad bit bearish but it was also in an uptrend so kinda in the middle. it looked quite a bit better on the second entry that I didn't take when it came down to the 15m and looked like a buy setup. would have been a really nice 84% play or just a second play. 5m chart was a pretty good buy setup, above VWAP, wick was a perfect 50% retracement, was missing the top of last move retest part. pretty good decline angle, had a NR bar and a BT, the hammer was green, there were no double tops and no resistance above, decent R/R, good daily, rather smooth move, could be better, etc. so it was a pretty good trade, I would take it again but I would def take the reentry a few cents under 58 for the second trade, that was arguably better(all time frames align, at VWAP, 84% rule, closer to top of last move)
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2021-05-04 11:10:14 | STLD | buy | $58.030 | long |
2021-05-04 11:12:39 | STLD | sell | $57.660 | 0 |
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