Shared by:
ToqueX
Grade=D
P/L= -0.71R
Entry: short the bounce to the 9ema on the 5m
Result: Stopped out. It seems like a reasonable spot to short, but there were a couple of things working against me. It was already a bit extended a bit to the downside and may have been showing early signs of reversing, so a better entry at a more extreme price point to the upside should have been my goal unless the price action was so quick that it didn't look like it stood much of a chance of sustaining any kind of bounce. The price action had likely slowed at this point however.
Moreover, the VWAP and EMAs on the 5m were separated quite a bit, so I should have been looking for a higher drift to the upside for a nice entry. I see evidence of FOMO.
Execution detail:
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