Tuesday Midday Review

What worked: secondary breakouts, waiting for the stock is show clear order flow vs. quick and spontaneous movements, and using longer intraday time frames to spot tighter consolidations.

What didn't work: sizing up on momentum plays, and trying to hold it. Taking trades that didn't present a good risk/reward ratio.

Midday Thoughts: My new "A trade" has been taking tight 5/10m consolidation patterns and pullbacks to previous breakout prices where there is a clear buyer (seller). Made back a lot of what I lost this morning with DKS and JCP currently open. DKS isn't really acting well although it has recovered the morning selling. I did expect this to go much higher to confirm it's kicker pattern but it's just not working as of now. My stop is set. Will just let it to its thing (or not). JCP worked well. Took 200/500 off for +.44. Will set a bracket order betting that it can hit the 20 SMA. How did I get into JCP? I watched the intraday reversal pattern and waited for a consolidation. From there let the risk/reward play out. I can do this. It's all in my head. See you all at the end of the day. I'll post my charts up.


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