Up until around 9am I was 95% sure that I wasn’t going to be trading anything today. I’ve never traded through an election before, so I’m not sure if how things always are around this time, but I’m just not interested in jumping into a trade just to jump in. I’m feeling completely ok with just not doing anything. This is probably because I usually have to stop trading so early in the day due to my job. Needless to say while I thought I wasn’t going to be trading, I’m finding myself sitting here writing about another green day recap. Funny how things shakes out.
What I’m learning more and more of as I watch all these absolute killers around me nail play after play after play, is that you need to be preset, ready, and able when opportunity presents itself. I believe I’m somewhere learning how to balance that with also realizing there’s no good setup in front of me, so it’s ok doing nothing until there is.
Now onto the trade
SAVA
My boy “Cactus” came through today and helped give a free look into the price action on $SAVA. I already kind of had it on my list as a maybe, but the thing had died off, but then it curls back and Cactus gives it a whirl, hits a brick wall, so what do I do…..well when in Rome, do as the romans do. So I laid some bricks for the brick wall as well…lol
Now one thing that I think I could have done better on the entries with was sizing in with a bit more conviction after that volume helped give a view into what was to come. After the entries I see that I’m back to not shorting into the proper strength. Granted given the tape my entire were fine, however I want to be much nearer to those key levels in terms of entry/add price.
My original goal for this short was the 9.73ish level, but I’m happy that I was able to recognize the sideways action and take my profits off the table without getting stuck like I did on 6/10 with $WIMI. This kept med from getting swiped, and as you can see there was a nice decent swipe that happened not to long after my final cover and then it continued into the 11’s.
Overall a nice win, but I could’ve optimized my entry and add zones to pull much more profit out of this setup.