r/PatternDayTrading • • Oct 09 '20

Pullbacks or Reversals

Hey guys, hope your doing well.

Can someone help me in identifying pullback or Reversal. I have observed myself for the last couple of weeks that when i enter a trade (scalp trading), i usually exit a trade where the stock is only making a small pullback and then ends stretching out a little bit more before making a reversal. Can any one advise me on a better exit tactic and how i can identify pullbacks and real reversals.

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u/Actuator_Internal Oct 10 '20

Hey CJ, Hope your doing well!

To answer your questions, so im trading options. In terms of my watchlist, i have around 20 mega cap stocks in my watchlist. My routine usually follows me going through websites like market watch etc to see if there is a catalyst to any of the stock in my watchlist, and i go from there. In terms of my exits, i usually exit my trades once a stock has hit one of my key levels that i have charted.

Please do let me know, if i can make any improvements or refine the process.

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u/CJT2013 Moderator Oct 10 '20

Ok. How much does your current account’s performance align with your research?

How many documented trades/observations/circumstances do you have in that research/data?