NQ1! No Trade — 2024-05-09

5/9/24 $NQ1! This was another impulse trade. I had this drawn up off of the 15m chart, the 1H chart, and the 5m chart. Once price came to my 15m+FVG for the entry which actually was near the DOP as well, I did not wait for a candle to close above the rejection candle and price continue to drop further. We got to a new price point that I was also looking at on the 5m chart but again I did not wait for the candlestick entry confirmations before I entered the trade and went in with too much size and too tight of a stop loss.

When we finally started to push up, I had already taken two big losses, and I even change the direction that I was looking for. I saw that we had created a new 15m-FVG and I started looking for sales around the low to middle, and that immediately hit my stop loss because again I did not wait for the entry confirmation. In this case, because I was looking to sell, I should have been looking for a rejection, candle and a new candle to close below the rejection candle.

In the case of the buys, that was the direction I should have stayed in if I stay in those trades, I hit all of my targets for the day and I don't take the loss on the sale because I would have been done for the day.

The final trade was at the top of the range, and I was taking the same trade along with the top step team and this wasn't really that great of a set up, but I was able to close this one out in profit on the demo account. This trade was one that I did not see through completely. I had already taken too many losses, so I couldn't see this through completely, so I was not able to take full advantage of this opportunity.