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Publically Shared Trade Notes:
Entry made by: BarByBar
Trade Completion Date: 6/17/2019
Click here for trade details & chart
Entered on new high, with stop at bottom of the spike, the next bar put in a large reversal bar and the next bar began to add the follow-through passed the bottom of the spike and was stopped out.
A better trade would have been to place the stop at the bottom of the trading range with a smaller position.
Entry made by: BarByBar
Trade Completion Date: 6/17/2019
Click here for trade details & chart
ROKU had put in a double bottom with an inside bar bull bar, which led me to believe that this was a continuation pattern from the trend from the open bull trend, instead of a trading range.
Once in the trade, there was a breakout, which was just really a buy vacuum to the top of the range, with yet again another reversal, however, once the higher lows held from the original entry, it appeared to be setting up a breakout pullback long and I added another full size, for a 1:1 move to move trade, however, price broke down and I exited both trades.
A couple of bars later it reversed at the double bottom support and just another confirmation (as if I needed another) that this was a trading range.
I also could have held this trade with the bottom of the range as support and held for a breakout which came at the close.
I should have realized that the 10:50 bar was a three-bar reversal, and the next bar reversed that and the next two bars reversed each other, all of which scream trading range and should have avoided this trade all together.
Entry made by: BarByBar
Trade Completion Date: 6/17/2019
Click here for trade details & chart
Opening Drive Play 1 min chart
Signal bar was an inside bar, entered one tick above and stop one tick below, stopped out on next bar.
Entry made by: BarByBar
Trade Completion Date: 6/17/2019
Click here for trade details & chart
Strong bear trend
Entered on a pullback, the signal bar was an inside bar, bear bar at 12:20 with the entry one tick below the low and stop one tick above the high.
Front loaded full size.
Took partial profits (one tier) at a measured move of the entry bar.
Stopped out of rest of trade (two tiers)
A better trade management would have been to booked the rest of the position once the inside bar bull bar at 12:40, and even flipped to long for a scalp.
Key levels: R2-29.59 R1-29.34 Support 29
Entry made by: BarByBar
Trade Completion Date: 6/14/2019
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T A – Long
Daily had a pullback, causing a failed breakout, if the failed breakout fails it will setup a breakout pullback long Those are the two scenarios to be prepared for the session
T A – Mid
The 15 min ended in a tight bull channel yesterday which is essentially a bear flag which generally test the bottom of the flag on the breakdown
T A – Short
5 min put in bear reversal bar at the new all-time high, then began a trending trading range bear trend and consolidated between 104-104.25
Trade Management
Once I identified the 103.20 level I just had to wait for a test of the bottom of the higher trading range which came at the 14:30 bar, at that time I set my alarm and entry order to short at that level. That order was triggered at 15:15pm and the very next bar was the breakout test which set up a breakout pullback short, however, I already did Tier 3, full size from the beginning, as we discussed; the initial profit target was based on the height of the trading range (70c), however, after the breakout of the inside bear bar at 15:40, the odds were increased that the move would go further, so I moved my buy limit down and once ROKU put in a bear reversal bar at 15:50, the odds increased that the move would sell-off further, however, the move went so fast I did not have time to cancel my order before it was filled
Trade Review
I want to do a better job of is identifying, more quickly, when a trade will not work, and hitting out of the trade immediately, instead of
Entry made by: BarByBar
Trade Completion Date: 6/12/2019
Click here for trade details & chart
TA – Long
Daily showed a micro wedge bull flag
TA – Mid
The 3 day 15 min was a falling wedge which is a reversal pattern
TA – Short
Based on my Trade Idea yesterday, the 5 minute chart ended with a bull flag, all three times frames are giving the same signal which resulted in a trend from the open bull trend
Trade Management
The top of the closing range was 100.80, however the first two bar on the 1 minute made a micro double top then formed a double bottom reversal bar, defining the opening range which was less than 1/3 of the daily range which meant ROKU was in breakout mode, so I lowered my initial buy stop from 100.80 to 100.50 and ended up getting filled at 100.70 because of the speed of move. Entered Tier 1 risking to the prior day’s close and added the next Tier after the next bull close and added the third Tier after the close of the next bull bar, bringing the trade to full size and held the move until the first pullback and booked
Trade Review
Did a good job of identifying the levels prior to the open, based on yesterday’s price action. What I would like to work on the
next session is my trade count and I will do this by front loading my trades, instead of adding as it moves in my favor
Trade Idea
Looking for follow-through in the next session, however, ROKU ended with a bear flag, so will have to watch the pre-market and the open, perhaps and reversal from the open then a bull trend for the follow thru
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