Andrew's IMMU Trade Entry 4/23/2020

[JasonH 47]

If you were in the chatroom today, then you saw @Andrew Aziz turn a $200 loss on IMMU into an $1677 win for the day. I went back to review the trade and try to understand the rationale behind the entry. Kind of hard to study without knowing what L2 looked like, but does anyone have any thoughts on this entry (blue arrow)? Seems like the chart would've looked pretty similar at the red arrow, and that probably would've resulted in a stop-out. Is there anything distinguishing about Andrew's entry at the blue arrow?

 

Edited April 23, 2020 by JasonH
Tagged Andrew

[JasonH 47]

Here's how the trade played out:

[mhileman 21]

The only thing that tells me why he wouldn't have shorted at your red arrow is due to the candle being so far away from the moving average above it and it didn't have a really long wick. The blue entry you can see that the upper wick is longer which means there is selling pressure and the candle is falling away from the moving average. With that being said unless we know what the L2 shows at the time of the red arrow and at the time of the blue arrow we wouldn't have a real understanding of the price action at those times. 

[hailchaser2 185]

it was also an engulfing candle on the 5 min in the second arrow, it wasn't on the first arrow.

[hailchaser2 185]

also the 1 minute chart, first arrow didn't have increased volume, the second arrow had increased volume. but I'm betting there was a big bid or two on the L2 the second arrow.  Combine that with the engulfing 5 min candle and increased volume on the 1 min that all together gave him the different "feeling" on your second arrow.

[hailchaser2 185]

Also a nice shooting star doji a few candles before the second arrow when it tried to cross the moving average.

 

[hailchaser2 185]

Or maybe he just wasn't watching it where you put the first arrow.

[JasonH 47]

18 minutes ago, hailchaser2 said:

Or maybe he just wasn't watching it where you put the first arrow.

Yes, could be anything lol I really appreciate the food for thought though guys. 

[jonosg 11]

Looks like a 15min ORB to me,

It was generally pretty choppy today at the open. AMD looked like it was setting up on the 1, 2 and 5min charts every now an again today but each time I checked the larger time frames in the first hour it was chopping about inside the 15min opening range. In the end I took a small scalp on AAPL after it broke the pre-market (sorry previous days hi) and that was all I got. made $200 and gave up.

(i'm 12hrs ahead of NYC and the beer in the fridge seemed more productive to me than trying to trade today - an executive decision for those in yesterdays  webinar!)

Edited April 24, 2020 by jonosg