First short attempt at ATH…first meaningful rejection
Note
For clarity, I shorted the first 15min close. Here is what the stop actually is Note
Unlike others who post perfect TA and position entries after the fact...I will uncharacteristically post my trade idea in real time. If I am wrong who cares..My RR is 110:1 and I have 25 point stop. I can try a few times with no stress if the narrative is still there...I did not trade Friday, Monday, Tuesday. I missed some 'big', intraday days apparently....who cares. I wanted to wait for my perceived higher probability trade, with tiny risk.
Price strongly rejected the ATH on the 15min...that was enough for me. If I am wrong I lose 25 points....If it starts tanking I scale in...
The bottom line here is mainly for the swing trading beginners. I skipped the envitable chop for 3 days, I've entered a trade I wanted to enter that nobody is spamming about, and if I am wrong, I lose very little and can try a few times if my entry isnt perfect...
Don't feel like you have to get the trade perfect on the first attempt either...unless you are AI, it might take a few tries, especially if its choppy. Hence, small stops.
Note
Stop 1 has fallenBreaching the 15 wick likely means more liquidity is required above
How much? We will have to wait and see. Will kept this thread posted with re-entry
Note
Im in again...10 point stopTrade active
So now...35 points down, I accept now that the 15/30min rejections are not reliable, so I will ramp up to the 2hr rejection and wait....No dramaTrade closed manually
2 hr Candle is a doji. Smaller TFs inconclusive. I stand down for now…All risk controlled, no stress.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.