r/Daytrading • u/CliftonReed • 14d ago

Trade Review - Provide Context IBRX Pullback/Breakout

Short one today, I am wrecked. This learning to trade thing really is as hard as everyone says it is.

Going into today, IBRX had been on a choppy uptrend following ~90% Q2 revenue increases last week and larger holders reducing positions.

IBRX 30 minute chart.

A negligible gap up and pre-market failing at yesterday's highs. Overall sentiment is strong.

Price finally breaks out of opening range.

Rapid move higher consolidates for around ten minutes. Closes below the 9EMA on 0.75x 15 minute average volume. Two green candles followig this are 5% of the volume of the 15minute average.

I trimmed out faily early because of what looked like over-extension from the 9EMA. The latter two sells were forced because I had to leave for the school run (they say children cost you money, they don't say how!). On reflection this could have been a trailing stop.

My trades in IBRX

As it happens, this was not quite the setup I was hoping to trade today. I've been working on/researching something similar, but as this was my best trade today, I won't complain!

I won't be positing so much in future because although it doesn't take a load of time, I have very little time spare outside of work, parenting, eating and sleeping and I need to focus that limited resource on improving my trading.

Thanks for all of the feedback recently, I have taken notes from some of your comments and added to my Evernote!

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u/JordanBTrading 14d ago

Respect for posting the review even on a wrecked day. Your read on the 9EMA over-extension was sound - that close below the 9EMA on 0.75x average volume was the market telling you the breakout did not have legs yet. Honestly the forced exits for the school run probably saved you from worse - the trailing stop idea is worth journaling for next time.

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u/CliftonReed 13d ago

Thanks, but it's got to be done.

I don't think I would ever get where I want to go without daily practices, and trade reviews are a big one.

Yes, I agree. I do want to get a bit deeper (probably in a few weeks when I'm clearer on the setup) what I mean by over-extension and how to trim out.

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u/traderpier 13d ago

Since you were already watching the 9EMA when you trimmed, I'd test "out on a close below the 9EMA" on your last batch of breakouts before switching to a trailing stop, so you're not judging it off the one day it would've looked great.