celestial's /ES Trade -226.74
Trade Details
Published: Jun 03, 2023
Status: Closed
Broker: Tradovate
Asset: Future
Symbol: /ES
Type: Long
Future Date: June 16, 2023
Name: /ESM23
Portfolios: Default
Performance Metrics
Entry CPU Exit CPU Fees Max Amount Max Cost P&L % P&L $
4,210.00 4,205.50 $1.74 1.0 $4,210.00 -0.11% $-226.74
Transactions
2 entries
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Entry (Buy/Short)
Exit (Sell/Cover)
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Notes

Hypothesis: Price would reach into a fair value gap above, and then get rejected into the downside.

Mistake: Didn't realize that under the gap above was resistance, and if that resistance was broken the fair value gap would become support.

Result: Price broke resistance, entered the fair value gap, but rather than rejection, price created a new gap during the breakout and used it as support, rising higher and stopping me out.

Lesson Learned: Watch how price interacts with fair value gaps before entering a trade, and watch for resistance near gaps, if resistance is broken the gap becomes liquidity to move higher.




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