Traded two tickers today, CAR ZSAN. Huge loss today. Just couldn’t get on the right side of the trade here.
CAR – $311 in the red. It just didn’t work like I thought it should. That initial candle that came down was huge and I thought that was the beginning of the retracement but it continued higher. The direction of the gap was to the upside so this should have been expected.
CAR continued on to make higher highs throughout the day and closed at the top of the range. There was no lower low or a 5 minute candle that I could get short on but I took the trade multiple times expected a huge break down because of the initial sentiment when the market opened.
ZSAN was multiple trades as well with a few losses but I ended positive on the trade overall. There was definitely a clear trading signal here when the candles lined up correctly even on a pull back.
This was the trade that can make or break an account if you are on the wrong side of the trade. I had the right idea here but the timing was all wrong. The perfect entry is there for the move through $4.00s and onto new highs of the day. This was a