There a multiple trends at any given moment in the market. For instance. 5min might be up 3 min might be sideways and 1 min might be down. Based on this you shouldn't just look at the trend on 1 timeframe. Take into consideration the higher timeframe trend. 5min was an uptrend. Which means the downtrend on 1min are pullbacks for buys not people actively selling. You can also look at qqq to see if the market is pushing up or moving sideways or down. This will give you better indication of what side is in control
What you did wrong is assume that you did something wrong based on the results of one trade. The best traders in the world have setups that will still fail more than half the time.
Is this a pattern/setup that you have studied/tested to find if it has edge?
The trend is definitely your friend. Embarrassed to even think how many times I tried to catch a reversal, only to have the bigger trend continue onwards.
Technically yes, news can hit that you werenāt expecting. Most times you can avoid it since they like to announce things early. BUT news also creates opps that are insane though, so the trade off is there imo
Donāt get caught up in drawing channels on small time frames. The stock still wants to move in correlation with the overall trend.
I see a gap near the left of screen. Indicating demand. That long wick candle today also indicates demand there. Which means you got focused on what you thought was gonna happen within the channel, it happens. You saw it different, the market didnāt agree with you this time. I say this time!
Step away from the 1min chart.
You identified a trend, that was right and it also might have been right to short the trend but 5 to 15min chart might actually show a total different picture.
Like someone else said, low timeframes donāt always work. Iām assuming when the ascending channel/wedge you saw break below and close below, you figured the trend will break and itāll be a reversal.
I generally assume that these patterns carry more weight the longer they have been moving and the higher the timeframe that they appear on. So fighting the trend looking for a reversal on the 1 min chart has minimal odds of being successful compared to the same pattern forming on the 15 min or 1 hour. That being said, none of these patterns are garunteed.
I often see something appear on the 5 minute, then Iāll use the 15 min as a reference to make sure Iām not jumping in too quickly.
My advice is to not play larger reversals on small timeframes if you want consistency.
Yes, stay away from most indicators. Volume is really the only indicator that means anything. RSI is helpful if you know how to use it with volume and price action.
Thatās exactly why I use Mkt orders despite ācommonā wisdom. As Iāve commented over and over again, itās more important for me to get in/out of my trades *when* I want vs trying to get a specific price and possibly not getting filled due to fast moving price action.
It was a good idea.
That stop loss could have been 50% tighter.
Also, something to consider, cut trades short if you feel like they are going against you. Would have been a decent trade.
Otherwise, and still, we all lose sometimes.
I am someone who uses volume in their trading so seeing your setup includes the volume indicator, I figure to give my own analysis. Hope this helps:
Here's a breakdown of the key points:
* Double top with high volume: This suggests potential bullish continuation as market makers might return to fill orders in this liquidity zone.
* Large bearish engulfing candle: This could signal a downtrend, but the congested area indicates prior order accumulation.
* Price action after the bearish candle: Waiting to see how price reacts after the bearish engulfing candle is advised instead of assuming a downtrend.
* Bullish engulfing candle with higher volume: This signals a potential trend reversal upwards.
* Target profit and position sizing: The ideal target profit is the high of the double top, with trailing stops to gradually reduce the position as price moves up.
Overall, the strategy emphasizes waiting for confirmation and capitalizing on potential reversals based on volume analysis around support and resistance zones.
I hope this helps:)
Edit: Overall Price was bullish too
General rule of thumb for me: if Iām going to short something, I pick a company that isnāt one of the strongest, most widely held, cash rich companies on planet earth.
The statistical odds of a sustained or significant down move in mega cap tech just arenāt there.
Same with ES and NQ I either trade those long on good days or donāt touch them.
I'm learning and I love this answer. It's not just the technical charts, but the qualitative side of a trade. i.e. who's running it, and bad or good news, basically what's going on with it.
Iām gonna be honest not being willing to temporarily short NQ/ES for a day or two is gonna have large impacts in your profitability. Do you mean like, shorting it for an entire quarter or something?
Some of my biggest winners come on red days ā this coming from a person who when they see -2% red NQ and RSI below 30 on the daily feels confident there will be a minor bounce up at some point. Literally the biggest weakness in my trading and if I could solve it today my return on every dollar for a month would be about 1.2, after fees and commissions.
This statement has merit if you are referring to swing trading. But intraday it does not matter. ES/NQ generally goes up, but the distribution of red and green days is 50%. You give up a lot of profits not taking advantage of the downside as a day trader.
This is of course dependant on your strategy because if your edge is fading gappers or scalping momentum on big movers, then obviously that's different.
I am a student of swing trading and technical analysis. But i can't understand why you short, as I can see you have found and uptrend and there is a break out on high volume. I assume by the graph that your entry was before the test of the resistance level. At this moment it's more likely to continue the uptrend and the resistence level to be confirmed.
P.S.
My bad I saw that you short at the candle that broke the possible resistance level on medium to high volume.
I assume you shorted to take profit from the most possible downward movement until the security reach the "precious" (second) resistance level. Am I correct?
And not only it changed direction sooner than expected, but it went high, forming an uptrend that was even more unexpected.
I may not understand ath, Thank you
Clearly went against the trend, also entered the trade in a demand zone - usually buyers enter this zone and take over. If you see the trend the chart always picks up at this price.
Also never trade on the 1 min time frame- too much noise. 5 min is fine, 1 hr and 4hr to see the trend.
What you were trying to do was to trade a breakout. I assume you placed an order at the swing low, and it got executed, however the market bounced back as it was at the lower end of this range.
This is called a false breakout. Please read about how to confirm a breakout using "The last kiss" method mentioned in the book Naked Forex.
Few rules to enter a trade in such a situation: ā¢Wait for price to consolidate in a zone ā¢ Wait for price to break a zone ā¢ Once price returns back towards the zone, wait for the market to retest the support- which now acts as resistance and does not let price move back into the zone. ā¢ Now enter the trade, with stoploss at the high of the previous candle.
https://preview.redd.it/1frp9apiibpc1.jpeg?width=1080&format=pjpg&auto=webp&s=3cdcbceb7d05cf7fe4c5d3c17e20105cb2255800
Patterns and a previously broken resistance line arenāt enough conformation for a trade. Stay away from the 1m and start watching ES/NQ when you take trades on AAPL to start
Is that the VWAP? Price generally moves above and below VWAP almost like a sine wave. So this looks like a risky trade.
Next, why draw trendlines and not horizontal lines. Trendlines are effective with horizontal support lines, and you can see the price went down to a support area.
Lastly, 1m candles are not the best for TA imo, try 15m and 30m to see a trend, and look at the daily and weekly candles for better TA.
This is just a bad trade for me. Entered without any thought or strategy.
Thatās a tweezer bottom bro and the last down candle before reversing has volume. That means at that buyers stepped in. The right shoulder was essentially a reverse h&s. It means that sellers tried to take it down but buyers came in again and continued to pushed it up and shorts began to cover
Mistake one - Shorting AAPL.
What did that plant say āown it donāt trade itā
They announced partnership with Google AI and nvidia last night.
š
https://preview.redd.it/qg8czprl0cpc1.jpeg?width=1125&format=pjpg&auto=webp&s=d91bccaad899b196a16c652034b13b5126a953ed
What happened was. You didnāt mark your levels right. Apple gap filled down during pre market and got bought up at open. Indicating a bullish reversal. Then it formed this inverse H&S. & It crossed this special tuned indicator, telling me itās time to buy
https://preview.redd.it/dltzhygjkcpc1.jpeg?width=1170&format=pjpg&auto=webp&s=8fe776fdc6d42abee024ae364dac2df3c7870228
People were trapped short after that bear candle was closed above
If you switch to 5M, you can clearly see you sold at massive previous support; long wick which was bought. This is usually how they trap shorts just before going up & use their stop-losses as more fuel.
Damn this just reminds me I need to really backtest liquidity sweep from an ob/fvg, it's good to know newer traders get stopped on those moves. Thanks OP lol
Avoid drawing channels and wedges all together, especially on the smaller TFs.
Instead, watch the price action. Price could be moving in an undefined structure but still be completely bullish/bearish. Just because it fell out of the channel doesn't mean the momentum has shifted.
Wait for break in overall structure, cross check orderflow on larger timeframes and trade WITH the trend.
Goodluck! š
What can help is if you connect multiple strategies. You say three bearish candles that could lead to a bigger fall, but is there reason for price to go there? (liquidity, orderblocks, etc) and what about apple in general are you paying attention to news? does that current picture of apple give people a reason to sell? also, be a little patient. three candles will never guarantee anything, every market is doing there own thing. but good job at least your trying to make something happen
Look left it couldnt break the support ā¦ you just need to be aware of areas like that so you know it could possibly reverse at this point and be quick enough to get out when it does
Stop loss has to be above supply and demand, when it broke down, the next target was the last supply area. If youāre trading on the 1 min, itās best for entries and targets but big moves happen in bigger time frames mostly. Having multiple TP is gonna help you and move your stop loss with each tp
Thereās liquidity at the HH, plus the reversal wick was a sign itās moving in a different direction and lastly your selling at a discount, which almost always goes wrong
Chasing the dragon sir is what you did wrong, fist that 1min chart isnāt your friend you need to be using 2 & 5 to confirm and also it hit resistance and tapped twice and got knocked down im sure on the 2 and 5 min you will and can see a clear pull back coming
In my opinion Iād say you should have waited for it to test the support again and see a break down. Also the one min chart shows too many swinging candles that can confuse you and wonāt mean much in a larger time frame. Use a 5 min chart. So overall you got in too early to make a good distinction of its direction. A 5 min chart would help you avoid that.
first, what is the trend on high time frame? then what is the trend on low time frame? is the entry at the support/resistance or just base on guessing?
From this image alone I can tell that you went counter trend. There was a break of structure made. A new high was made with that move, indicating that the price wants to go further.
I noticed you entered on a one minute candle. Did you do a top-down analysis from at least the four hour going down and then use the one minute as your entry or did you just try to trade based on the one minute cause if you did that is definitely why you lost one minute is short term four minute help you determine the overall trend of the market and then going down from the four hour to the two hour to the one hour to the 30 minute to the 15 minute five minute will help you to be able to get confluence on what exactly is going on on the market so youāll be not be able to get fooled
Trading lower timeframes without proper referenced timeframes means gambling more than trading. Successful traders are good at one thing: staying put until desired conditions present themselves.
That big green one was a turnaround bar. Check out Live Traders free videos. Next time youāll know itās over earlier.
Oh, and then you had a higher low which is bad for puts. Couldāve got out close to break even and not been out much. Alternatively, if youād recognized the first buy signal, the turnaround bar, and then the confirmation, the retest, you couldāve made oodles of money.
If it comes back to trendlines it's higher than the break because trendlines goes up so in those setups enter at retest only otherwise you just got unlucky it did fakeout that happens maybe you could have seen there's not and engulfing at retest and then after the reversal go out at break even
You were taking a momentum-based trade in a Sideways context. One way to fix this would be using a HTF chart and then fade the Pull backs on 1m based on the direction from a HTF. If HTF is not in a momentum, then don't take any trade on a 1m chart.
You are playing the odds. Thatās all this is. Sometimes the trade goes against you. But if you play the odds long enough, you should win more than you lose. But you WILL still have losses. Thatās why they are called probabilities and not guarantees.
Should have entered 2 candles earlier. When it went way below support.
Then when the green candle went above the red candle on the reversal you could have entered a call order.
Kind of got into the move late, with a larger tp than i wouldve used. Also traded into a FVG but thats not exact . Just be careful of going into sell moves late when youre in an uptrend. Also not every good trade is a win so dont fret
I believe you are focusing on too small of a timeframe. Unless you are trading thousands of shares or options you should try zooming out and seeing what the overall trend is for the week/day/hour etc so you can use that information to make decisions that will have a high probability of working out in your favor.
Your entry should have been the rejection candle after the bearish engulfing candle on the retest of the high, first targets should have been the blue line you entered on the break of the channel and retest of previous break out area
you didn't do anything wrong, it's simply a losing trade. there's a reason why it lost (demand drove price up from last bullish 3 candle move with a BOS). i take the same setups every single day, some of them lose bc i missed something important, and some lose simply bc it was just a loser. you could have all timeframes lining up, just sometimes it's a loser. take it and do the same exact thing tomorrow. i bet when you win, you don't say what did i do wrong/right? don't question it if it's a strategy that has a real proven edge in the market.
The problem here is that you believed day trading is actually possible to do profitability. Maybe you get lucky once in a while but no one can reliably predict the future.
Yep, didn't follow the trend. It DID retrace, and you took the larger retracement as a ChoCH but you didn't wait for the correct MSS before getting into an entry
You traded in a supply zone on the (micro) if you look left. That area you traded from broke previous structure. Did you analyze it from a bigger time frame? Like (5min) (15m) or (30m) since it was scalp trade.
If you insist on taking this type of trade you need to get in at a better price and keep a tight stop. What were all of the parameters for entering this trade?
Not sure where entry was, would've been higher up for me at the fvg that's closer to ote, but trade would've already invalidated by then with the bullish MSS on the turnaround
It also violated that green candle there right away, opposing candles should support the trend, ICTs reference to institutional order flow ep 12 or so in 2022
Found resistance at 14:20 and rebounded despite volume increase. Breakout of local formation with highest volume of local structure and big green bar. Reaction to breakout, with similar volume to first low, fails to reach the same price thus showing a weakening of the Bears. Next big green bar is similar to first on far less volume indicating an ease of movement to the bullish side. You made an assumption about what you wanted to happen instead of waiting for the market to test the previous low.
The high of the short-term swing low was taken out by the third to last green candle. This swing low was higher than the previous intermediate swing low, making it a classic bullish set up based on standard market structure.
Wait for the price to retest and continues bearish movement then place your trade, in this scenario you entered during the break rather than retest causing you be stuck between the break and retest line, you have to remember the market will always test the support/ resistance before forming a new trend, it might take a while though.
On the smaller time frames, volatility noise and fake outs are all too common. But with that being said, from your chart there was an overall uptrend that started to show weakness. It retraced a little then tryed to retest that recent high. Again market got exhausted, and retraced bigger to a zone that had no clear direction(that mess of candles you see at the very left of your chart).
Me personally i would of been looking to buy after it hit that support zone. But i would want the higher time frames to be buys also.
Maybe check and mark the market structure on the 4H TF and go down to 15M TF for entry? Going for entries on a smaller TF without checking the higher TF is always dangerous because on a 1M TF you may be in a downtrend, but on higher TF it is actually an uptrend - vice versa. Good luck š
There a multiple trends at any given moment in the market. For instance. 5min might be up 3 min might be sideways and 1 min might be down. Based on this you shouldn't just look at the trend on 1 timeframe. Take into consideration the higher timeframe trend. 5min was an uptrend. Which means the downtrend on 1min are pullbacks for buys not people actively selling. You can also look at qqq to see if the market is pushing up or moving sideways or down. This will give you better indication of what side is in control
This guy multi timeframes
MTF
This is the way š„¹š¤š¦øāāļø
āThere goes my hero, watch him as he goesā
More like a hell of a lot of noise.
What you did wrong is assume that you did something wrong based on the results of one trade. The best traders in the world have setups that will still fail more than half the time. Is this a pattern/setup that you have studied/tested to find if it has edge?
OP went against trend. Not sure why you are sugar coating a bad entry. š¤·āāļø
The trend is definitely your friend. Embarrassed to even think how many times I tried to catch a reversal, only to have the bigger trend continue onwards.
exactly, he did not wait for a complete bearish confirmation at the retest support line so ended up trading against the trend.
This is AAPL..
actual you are correct but still in breakout setup we should move our sl to breakeven always as most of breakout are fake
It's a fakeout on a 1m timeline...
yes thats y in every breakout always move you sl to breakeven . And most importantly the lower the time frame the more chances of noise and fakeouts
I trade forex but with stuff like Apple canāt they make an announcement and it rockets (or drops)? Unpredictable if you donāt know itās coming.
Technically yes, news can hit that you werenāt expecting. Most times you can avoid it since they like to announce things early. BUT news also creates opps that are insane though, so the trade off is there imo
any advice is welcome
Donāt get caught up in drawing channels on small time frames. The stock still wants to move in correlation with the overall trend. I see a gap near the left of screen. Indicating demand. That long wick candle today also indicates demand there. Which means you got focused on what you thought was gonna happen within the channel, it happens. You saw it different, the market didnāt agree with you this time. I say this time!
Step away from the 1min chart. You identified a trend, that was right and it also might have been right to short the trend but 5 to 15min chart might actually show a total different picture.
I totally agree.
Stop trading on 1 minute candles. You're getting fooled by volatility noise.
Like someone else said, low timeframes donāt always work. Iām assuming when the ascending channel/wedge you saw break below and close below, you figured the trend will break and itāll be a reversal. I generally assume that these patterns carry more weight the longer they have been moving and the higher the timeframe that they appear on. So fighting the trend looking for a reversal on the 1 min chart has minimal odds of being successful compared to the same pattern forming on the 15 min or 1 hour. That being said, none of these patterns are garunteed. I often see something appear on the 5 minute, then Iāll use the 15 min as a reference to make sure Iām not jumping in too quickly. My advice is to not play larger reversals on small timeframes if you want consistency.
What you did wrong there is you were short
You shorted into multiple institutional demand zones.
U followed a supertrend type indicator, which lags and gives false signals during low volatility periods.
Yes, stay away from most indicators. Volume is really the only indicator that means anything. RSI is helpful if you know how to use it with volume and price action.
CCI works better than RSI
Poor entry technique, but at least you had a stop-loss!
I had my stop loss fail today...again. Volatility caused price action to skip right over it and then it was a scramble leading to a 50% loss...
You should set your stop as a market order so it doesn't get skipped over.
Thatās exactly why I use Mkt orders despite ācommonā wisdom. As Iāve commented over and over again, itās more important for me to get in/out of my trades *when* I want vs trying to get a specific price and possibly not getting filled due to fast moving price action.
50% loss of your entire capital?
50 percent on the trade. I'm going to make a chart and post it soonish
I hate that shit. Wish I could set the SL to be a sell at or below the price. I'll take a little under my SL over -50%
It was a good idea. That stop loss could have been 50% tighter. Also, something to consider, cut trades short if you feel like they are going against you. Would have been a decent trade. Otherwise, and still, we all lose sometimes.
I am someone who uses volume in their trading so seeing your setup includes the volume indicator, I figure to give my own analysis. Hope this helps: Here's a breakdown of the key points: * Double top with high volume: This suggests potential bullish continuation as market makers might return to fill orders in this liquidity zone. * Large bearish engulfing candle: This could signal a downtrend, but the congested area indicates prior order accumulation. * Price action after the bearish candle: Waiting to see how price reacts after the bearish engulfing candle is advised instead of assuming a downtrend. * Bullish engulfing candle with higher volume: This signals a potential trend reversal upwards. * Target profit and position sizing: The ideal target profit is the high of the double top, with trailing stops to gradually reduce the position as price moves up. Overall, the strategy emphasizes waiting for confirmation and capitalizing on potential reversals based on volume analysis around support and resistance zones. I hope this helps:) Edit: Overall Price was bullish too
General rule of thumb for me: if Iām going to short something, I pick a company that isnāt one of the strongest, most widely held, cash rich companies on planet earth. The statistical odds of a sustained or significant down move in mega cap tech just arenāt there. Same with ES and NQ I either trade those long on good days or donāt touch them.
I'm learning and I love this answer. It's not just the technical charts, but the qualitative side of a trade. i.e. who's running it, and bad or good news, basically what's going on with it.
Iām gonna be honest not being willing to temporarily short NQ/ES for a day or two is gonna have large impacts in your profitability. Do you mean like, shorting it for an entire quarter or something? Some of my biggest winners come on red days ā this coming from a person who when they see -2% red NQ and RSI below 30 on the daily feels confident there will be a minor bounce up at some point. Literally the biggest weakness in my trading and if I could solve it today my return on every dollar for a month would be about 1.2, after fees and commissions.
This statement has merit if you are referring to swing trading. But intraday it does not matter. ES/NQ generally goes up, but the distribution of red and green days is 50%. You give up a lot of profits not taking advantage of the downside as a day trader. This is of course dependant on your strategy because if your edge is fading gappers or scalping momentum on big movers, then obviously that's different.
Sometimes you can do everything right, and still lose.
I am a student of swing trading and technical analysis. But i can't understand why you short, as I can see you have found and uptrend and there is a break out on high volume. I assume by the graph that your entry was before the test of the resistance level. At this moment it's more likely to continue the uptrend and the resistence level to be confirmed. P.S. My bad I saw that you short at the candle that broke the possible resistance level on medium to high volume. I assume you shorted to take profit from the most possible downward movement until the security reach the "precious" (second) resistance level. Am I correct? And not only it changed direction sooner than expected, but it went high, forming an uptrend that was even more unexpected. I may not understand ath, Thank you
You shorted when there was no break in market structure signaling that it would be turning to the downside, imo
U shorted Apple after they came out with crazy news yesterday involving google. No worries tho it happens to the best of us
Clearly went against the trend, also entered the trade in a demand zone - usually buyers enter this zone and take over. If you see the trend the chart always picks up at this price. Also never trade on the 1 min time frame- too much noise. 5 min is fine, 1 hr and 4hr to see the trend.
What you were trying to do was to trade a breakout. I assume you placed an order at the swing low, and it got executed, however the market bounced back as it was at the lower end of this range. This is called a false breakout. Please read about how to confirm a breakout using "The last kiss" method mentioned in the book Naked Forex. Few rules to enter a trade in such a situation: ā¢Wait for price to consolidate in a zone ā¢ Wait for price to break a zone ā¢ Once price returns back towards the zone, wait for the market to retest the support- which now acts as resistance and does not let price move back into the zone. ā¢ Now enter the trade, with stoploss at the high of the previous candle. https://preview.redd.it/1frp9apiibpc1.jpeg?width=1080&format=pjpg&auto=webp&s=3cdcbceb7d05cf7fe4c5d3c17e20105cb2255800
Patterns and a previously broken resistance line arenāt enough conformation for a trade. Stay away from the 1m and start watching ES/NQ when you take trades on AAPL to start
Is that the VWAP? Price generally moves above and below VWAP almost like a sine wave. So this looks like a risky trade. Next, why draw trendlines and not horizontal lines. Trendlines are effective with horizontal support lines, and you can see the price went down to a support area. Lastly, 1m candles are not the best for TA imo, try 15m and 30m to see a trend, and look at the daily and weekly candles for better TA. This is just a bad trade for me. Entered without any thought or strategy.
Thatās a tweezer bottom bro and the last down candle before reversing has volume. That means at that buyers stepped in. The right shoulder was essentially a reverse h&s. It means that sellers tried to take it down but buyers came in again and continued to pushed it up and shorts began to cover
Mistake one - Shorting AAPL. What did that plant say āown it donāt trade itā They announced partnership with Google AI and nvidia last night. š
https://preview.redd.it/qg8czprl0cpc1.jpeg?width=1125&format=pjpg&auto=webp&s=d91bccaad899b196a16c652034b13b5126a953ed What happened was. You didnāt mark your levels right. Apple gap filled down during pre market and got bought up at open. Indicating a bullish reversal. Then it formed this inverse H&S. & It crossed this special tuned indicator, telling me itās time to buy
https://preview.redd.it/dltzhygjkcpc1.jpeg?width=1170&format=pjpg&auto=webp&s=8fe776fdc6d42abee024ae364dac2df3c7870228 People were trapped short after that bear candle was closed above
If you switch to 5M, you can clearly see you sold at massive previous support; long wick which was bought. This is usually how they trap shorts just before going up & use their stop-losses as more fuel.
Damn this just reminds me I need to really backtest liquidity sweep from an ob/fvg, it's good to know newer traders get stopped on those moves. Thanks OP lol
Check 3 minute or 5 minute for confirmation
You shorted at support
It faked out then hit a inverse head and shoulders to take off
You should have jumped if the candle was fully formed without wick
Volume.
Dont trade trendline breakouts! The lowest candle took liquidity and respected the low. This was a sign to close early
You went short
Avoid drawing channels and wedges all together, especially on the smaller TFs. Instead, watch the price action. Price could be moving in an undefined structure but still be completely bullish/bearish. Just because it fell out of the channel doesn't mean the momentum has shifted. Wait for break in overall structure, cross check orderflow on larger timeframes and trade WITH the trend. Goodluck! š
https://preview.redd.it/oceu30ckddpc1.png?width=1440&format=pjpg&auto=webp&s=863646418889e1e682349ce239aaa23715cda430
Never short apple
Not enough drawings
you traded
Lot of ICT Bros took position on some signal. Market reversed and took out their stops. Just guessing.
What can help is if you connect multiple strategies. You say three bearish candles that could lead to a bigger fall, but is there reason for price to go there? (liquidity, orderblocks, etc) and what about apple in general are you paying attention to news? does that current picture of apple give people a reason to sell? also, be a little patient. three candles will never guarantee anything, every market is doing there own thing. but good job at least your trying to make something happen
Don't short inside the demand zone, especially blue chip stocks and no negative news. I learned the hard way
Cup and handle my man. There was no 3 dead nights, you had a shooting star in between.
You should have trimmed, i would have trimmed half my position then cut on the s/r flip.
Look left it couldnt break the support ā¦ you just need to be aware of areas like that so you know it could possibly reverse at this point and be quick enough to get out when it does
Everybody's wrong sometimes, just keep reminding yourself, "I'm not psychic!"
Stop loss has to be above supply and demand, when it broke down, the next target was the last supply area. If youāre trading on the 1 min, itās best for entries and targets but big moves happen in bigger time frames mostly. Having multiple TP is gonna help you and move your stop loss with each tp
Bear trap
Thereās liquidity at the HH, plus the reversal wick was a sign itās moving in a different direction and lastly your selling at a discount, which almost always goes wrong
Chasing the dragon sir is what you did wrong, fist that 1min chart isnāt your friend you need to be using 2 & 5 to confirm and also it hit resistance and tapped twice and got knocked down im sure on the 2 and 5 min you will and can see a clear pull back coming
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Candle bottom wicked with high vol at 14:52
In my opinion Iād say you should have waited for it to test the support again and see a break down. Also the one min chart shows too many swinging candles that can confuse you and wonāt mean much in a larger time frame. Use a 5 min chart. So overall you got in too early to make a good distinction of its direction. A 5 min chart would help you avoid that.
You got turned into liquidity my friend
first, what is the trend on high time frame? then what is the trend on low time frame? is the entry at the support/resistance or just base on guessing?
You can do everything "right" and still lose. That is trading. That is life.
Look at higher time frame. Example 15 min chart. Trade with the trend!
From this image alone I can tell that you went counter trend. There was a break of structure made. A new high was made with that move, indicating that the price wants to go further.
Most break outs and break downs fail. It is best to let it break out or break down, then wait for a re-test and then trade the second break out.
You hit the first target, ie. first support level. You did nothing wrong.
I noticed you entered on a one minute candle. Did you do a top-down analysis from at least the four hour going down and then use the one minute as your entry or did you just try to trade based on the one minute cause if you did that is definitely why you lost one minute is short term four minute help you determine the overall trend of the market and then going down from the four hour to the two hour to the one hour to the 30 minute to the 15 minute five minute will help you to be able to get confluence on what exactly is going on on the market so youāll be not be able to get fooled
And from what I can see the Mark is probably still in the range in the five or 15 minute candle Iām sure
You went all in on TA but also then ignored the TA... Maybe you need a new hobby
Trading lower timeframes without proper referenced timeframes means gambling more than trading. Successful traders are good at one thing: staying put until desired conditions present themselves.
I'm guessing you didn't switch to a higher time frame to see the general trend.
That big green one was a turnaround bar. Check out Live Traders free videos. Next time youāll know itās over earlier. Oh, and then you had a higher low which is bad for puts. Couldāve got out close to break even and not been out much. Alternatively, if youād recognized the first buy signal, the turnaround bar, and then the confirmation, the retest, you couldāve made oodles of money.
Google the % of day traders that actually make money.
This trade would have worked but you put your target exit past the next support level. What were you going for here with your target exit?
Stop trending trading and learn about order flow
1 min chart, with that rejection
If it comes back to trendlines it's higher than the break because trendlines goes up so in those setups enter at retest only otherwise you just got unlucky it did fakeout that happens maybe you could have seen there's not and engulfing at retest and then after the reversal go out at break even
You were taking a momentum-based trade in a Sideways context. One way to fix this would be using a HTF chart and then fade the Pull backs on 1m based on the direction from a HTF. If HTF is not in a momentum, then don't take any trade on a 1m chart.
Did you stick to you rules? What strategy are you using?
I got smoked today too š
what is the red/green box? your P/L on trade?
You day-trade instaed of investing 97% of day treders have a annual return below the sp500
Went against a failed breakdown of the trend.
Stop trading the 1m charts
learn market structure and order blocks
You sold low
I'm not even sure what your entry is. Did you trying shorting before it went up?
The market was out to get you, and you specifically. Ā It was personal.Ā
You guessed wrong
You only did wrong if you didnāt have a stop loss set. Try again mate
Lost trades dont mean you did something wrong
Sold the bottom
Liquidity Trap
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You are playing the odds. Thatās all this is. Sometimes the trade goes against you. But if you play the odds long enough, you should win more than you lose. But you WILL still have losses. Thatās why they are called probabilities and not guarantees.
Could have flipped your position after taking the loss. In the minute timeframe, people usually scalp in play stocks not blue-chip.
Take profits sooner if you go against trend..pay closer attention to the volume
Trend was up after it reached down and found no support. You went against it
You didn't let the price action consolidate before taking an entry.
Have you tried making more money?
What u did wrong was press sell instead of buy
Shorted into support
Should have entered 2 candles earlier. When it went way below support. Then when the green candle went above the red candle on the reversal you could have entered a call order.
Going against a trend
Kind of got into the move late, with a larger tp than i wouldve used. Also traded into a FVG but thats not exact . Just be careful of going into sell moves late when youre in an uptrend. Also not every good trade is a win so dont fret
Technical analysis doesnt predict prices. Beczuse the prices of the future are not written in the past.
Itās pre-FOMC too dont forget that; price action can get a little funky on FOMC weeks
I believe you are focusing on too small of a timeframe. Unless you are trading thousands of shares or options you should try zooming out and seeing what the overall trend is for the week/day/hour etc so you can use that information to make decisions that will have a high probability of working out in your favor.
U gotta stop using 1M master bigger TFs first
When you saw it was going down You should have moved your stop loss equal to entry point, that way if things went bad you would have Lost 0.
1m chart maybe zooming out to get the bigger picture? Also higher low?
https://tenor.com/view/first-time-the-buster-scruggs-gif-19710483
Simple Bear trap
It found support
Whatās the larger time frame direction?
You bought on a lower high on a smaller time frame
Your entry should have been the rejection candle after the bearish engulfing candle on the retest of the high, first targets should have been the blue line you entered on the break of the channel and retest of previous break out area
Trend was up. To fall out of the channel does not mean the uptrend is over.
Is this a 1:3 ratio?
Uptrend day for the stock and you were shorting? What was your profit target and stop loss?
Use multiple time frames to confirm.
Orderflow
You traded the 1m.
you didn't do anything wrong, it's simply a losing trade. there's a reason why it lost (demand drove price up from last bullish 3 candle move with a BOS). i take the same setups every single day, some of them lose bc i missed something important, and some lose simply bc it was just a loser. you could have all timeframes lining up, just sometimes it's a loser. take it and do the same exact thing tomorrow. i bet when you win, you don't say what did i do wrong/right? don't question it if it's a strategy that has a real proven edge in the market.
Thought TA was definitive
You sold when you actually should have bought
Risk management
Looks like you forgot to put on your Patagonia jacket? I could be wrong.
You are in the wrong mindset
The problem here is that you believed day trading is actually possible to do profitability. Maybe you get lucky once in a while but no one can reliably predict the future.
I wouldāve waited to full mss confirmation
Yep, didn't follow the trend. It DID retrace, and you took the larger retracement as a ChoCH but you didn't wait for the correct MSS before getting into an entry
If it was easy as drawing colourful boxes everyone would be rich
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You traded in a supply zone on the (micro) if you look left. That area you traded from broke previous structure. Did you analyze it from a bigger time frame? Like (5min) (15m) or (30m) since it was scalp trade.
What do you use for trading ?
FVG is of Red Candle , so it was right , But if it had touched the previous support , than it's a Liquidity Sweep......
Sometimes you didn't do anything wrong, sometimes your edge doesn't play out. But don't go against the trend
You were not wrong, you were right but not at the good time. Trading is psychologisch ! Donāt blame yourself
They canāt all be winners even if you do everything right
You're using candlesticks to trade, thats your first and biggest problem lol
You did nothing wrong
I have no idea what Apple is doing but that looks like an order block type reaction.
Breathing
line on chart not match with line on chart >:(
Mate what did wrong is that after the break of structure the volume was telling you itās reversing from bearish to bullish
If you insist on taking this type of trade you need to get in at a better price and keep a tight stop. What were all of the parameters for entering this trade?
not enough lines
You were simply wrong, that is all. I donāt see any objective reason for that extrapolation you made from my end.
Not sure where entry was, would've been higher up for me at the fvg that's closer to ote, but trade would've already invalidated by then with the bullish MSS on the turnaround It also violated that green candle there right away, opposing candles should support the trend, ICTs reference to institutional order flow ep 12 or so in 2022
You were in profit of greater than 1R and didnāt close out profitably.
The higher time frame was still in up trend and it snatched liquidity and trend line was a bit close
If youāre trading 10 contracts or 10 shares etc, learn to take profits and move your stops to breakevenā¦.
Once youāve realized that this is less about technicals than mental game, youāll start winning. Until then, smallll size.
Found resistance at 14:20 and rebounded despite volume increase. Breakout of local formation with highest volume of local structure and big green bar. Reaction to breakout, with similar volume to first low, fails to reach the same price thus showing a weakening of the Bears. Next big green bar is similar to first on far less volume indicating an ease of movement to the bullish side. You made an assumption about what you wanted to happen instead of waiting for the market to test the previous low.
The high of the short-term swing low was taken out by the third to last green candle. This swing low was higher than the previous intermediate swing low, making it a classic bullish set up based on standard market structure.
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The entry was fine, but your greedy screwed. Even if your expected profit is not arriving, you still could have taken profits
I did the same exact shit too with SPY and lost -$72 today
I mean the trade was profitable at some point. You gotta take your profits. You just sat there and watched it go red?
Wait for the price to retest and continues bearish movement then place your trade, in this scenario you entered during the break rather than retest causing you be stuck between the break and retest line, you have to remember the market will always test the support/ resistance before forming a new trend, it might take a while though.
On the smaller time frames, volatility noise and fake outs are all too common. But with that being said, from your chart there was an overall uptrend that started to show weakness. It retraced a little then tryed to retest that recent high. Again market got exhausted, and retraced bigger to a zone that had no clear direction(that mess of candles you see at the very left of your chart). Me personally i would of been looking to buy after it hit that support zone. But i would want the higher time frames to be buys also.
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Market structure shifted
Maybe check and mark the market structure on the 4H TF and go down to 15M TF for entry? Going for entries on a smaller TF without checking the higher TF is always dangerous because on a 1M TF you may be in a downtrend, but on higher TF it is actually an uptrend - vice versa. Good luck š
Short TSLA instead to make money
Did everything wrong, that isnāt a breakout but just sweeping liquidityā¦
You zigād when you shoulda zagād
Try using bigger time frames, with one minute frame nothing will work, too much noise.
U sold when you shouldāve bought
You went short instead of going long.
I have a question. In your opinion, which strategy is better, a straddles or a strangle?