Stocks gone wrong at the end :(

[JamesStr]

Hello, I need some help for this case.

This last week was... a rollercoaster.
I was all green - but on friday everything went up (I was shorting on all my positions)
More fear than harm, I'm literraly back at my inital position lol

Still... I can't really point out why this fail at friday and if could I manage to see that coming (if even it's possible).

If you have some leads to help me

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Here's the stocks :

BLMN
https://www.tradingview.com/x/c68LJykz/

So here's the recurrent pattern of all my stocks...
I was following my system (see my journal here for more info on my system : http://www.trade2win.com/boards/trading-journals/229060-learning-trading-stocks-101-a.html )
I noticed this stock when the price breaks out from the Bollinger during oversold condition (23/02).

I've waited the confirmation of the red hammer and enter short position on 27/02.
Everything went fine... until friday.

It indeed touch the support at 22.50 but because there was no sign of stagnation or others (or I don't know if there's tools that can help me to predict that) I didn't sell immediately.
I was like maybe this is not a big deal and price will still dropping tomorrow.

The price open the day after at 23.40... and touch my stop loss during the day (23.50).

So what should I've done ?

=> having some indicators that I didn't know then to alert me that there's a big chance of reversal when the price touched the support line ? (is there even such indicators ?)

=> Quitting the position immediatly the 01/03 ? If so why ?

=> Staying in this position ? Again how can I be sure that the price will drop soon and not going up touching the Bollinger waves again :whistling ?

=> First of all going into this position was a bad idea rofl ? If so why ?

=> others options that don't come in mind but an advanced trader would have ?
------

My others stock looks exactly the same - following the same pattern.
Good at first and friday, price went up hard.

CF :
https://www.tradingview.com/x/pnPfDPbC/
(I went short the 28/02 so no profit at all)

YNDX :
https://www.tradingview.com/x/JGwRkQDj/
This one didnt even got a bullish candle the 01/03...

MTCH :
https://www.tradingview.com/x/cFfejqFN/

NVDA :
https://www.tradingview.com/x/WVEgubLC/

By the way - MTCH and YNDX is touching the 20SMA - CF had touch it before going up but BLMN is pretty far from it.


I'm pretty confused. I don't know what should've I done during the last days in this situation.
Can someone enlight me ?

Thx

 

[Brumby]

Hello, I need some help for this case.

This last week was... a rollercoaster.
I was all green - but on friday everything went up (I was shorting on all my positions)
More fear than harm, I'm literraly back at my inital position lol

Still... I can't really point out why this fail at friday and if could I manage to see that coming (if even it's possible).

If you have some leads to help me

------
Here's the stocks :

BLMN
https://www.tradingview.com/x/c68LJykz/

So here's the recurrent pattern of all my stocks...
I was following my system (see my journal here for more info on my system : http://www.trade2win.com/boards/trading-journals/229060-learning-trading-stocks-101-a.html )
I noticed this stock when the price breaks out from the Bollinger during oversold condition (23/02).

I've waited the confirmation of the red hammer and enter short position on 27/02.
Everything went fine... until friday.

It indeed touch the support at 22.50 but because there was no sign of stagnation or others (or I don't know if there's tools that can help me to predict that) I didn't sell immediately.
I was like maybe this is not a big deal and price will still dropping tomorrow.

The price open the day after at 23.40... and touch my stop loss during the day (23.50).

So what should I've done ?

If you are going to rely on Bollinger Band I suggest you actually educate yourself on how to use BB. Have you heard of walking the bands? Tagging of the outer band doesn't necessarily mean is an oversold/overbought situation when a stock is trending. In any case, you are not even following your own trade plan. One of your exit condition is the appearance of a green candle after a short entry. You did not follow your own plan. BLMN for example is trending up and any short would be a counter trend entry with limited potential. Please refer to my comments in the attached chart below.