Shared by:
jfield001_BOWS
5/9: Wanted to work on tighter entries and building a case (following rules)
Case:
- Pattern: 1st Pullback buy intraday (potential just broke FTB a last few days, could carry that momentum - didn't have this at time of trade, seeing this at time of review)
- Volume: Near 20M daily
- MA's?: 9EMA and 20 EMA curling up on daily and intra day at entry point.
- Trending: Yes, held 9 EMA on daily yesterday, gap up, wait for orderly pullback green candle to hold with tight 9 EMA.
- J/S? ATR of 2, so can be if tight risk.
Entry: 78.96, held 20 EMA, risk vs 78.65, 9 EMA is 78.84, possibly too much room
Exits: 1/3 at 79.15, 79.09, 79.08
What I did Right: I like my entry point, possibly a smidge on the early side. First 1/3 exit is fine, then exits during some sideways movement. I was concerned about taking profits. If I bump my exit up to the entry point I can let it work. But at the same time it's not doing what I think. I am out 3-4 candles before big movement ($0.50 candle then continuing upward trend).
What I did Wrong: Nervous about locking all exits for profits.
Where I could improve: Sizing and risk
Trade grade:
Entry: B - probably early
Exits: D - Missed exits at candle wicks, locked for small profits instead of flat for remainder, then missed following moves.
Execution detail:
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