MESZ3 Trade on Oct 16, 2023 10:41 from RodrigoBras: Tradervue User Stock Trades.

Thesis: 4403 supply breakout (tested on Friday already) 2 trades on this but will only review the second one as I believe the first was a little pre-mature!

Where/why did I ENTER (Confirmations): Sellers are not showing up at these higher prices and are letting consolidation form higher; Also a move back under 4405 and reclaim after was bullish; downtrend line break AND this supply had already been tested on Friday.

Trade plan: "A reclaim above 4400-4405 would be considered as bullish as the 4403 supply was already tested, so it's lower quality right now, and my target for this long play would be 4420's."

How was I feeling DURING the trade (emotions): Calm, very calm actually and confident on this setup.

Trade management: On the first trade I just got stopped within seconds. However, on the 2nd one I did managed as it did not hit my SL (4404.75) right away.

Where/Why did I exit: so after multiple attempts in breaking 4410 and failing I decided to cut it and it end up be a nice exit (-1.5 points), since it broke 4410 and rejected right away.

Mistakes: NQ was also at supply which made this a lower quality play in terms of confluence

What can I do to improve: I believe this was a good trade, just didn't hit, that's all! That first trade should have been avoided, but this second one was good, I was just going with the flow.

Overall thoughts: Despite this trade having the similar mistake as the previous, it was a far better trade with strong confirmations backing it up, just didn't work out!

Rate this trade 1-10: 8

Entry: 4407.75
Risk/Stop Loss: 4404.75 (3 points)
Target: 4418 (Thursday's highs) 10 points (3.34 R)
Realised: (4406.25) -1.5 points ( -0.5R)