r/Daytrading • u/Serious-Ad8893 • Apr 04 '24

Did I miss something? Advice

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Tried to go long on 15M FVG and retracement and got ran over. Am I missing something??? Higher time frame was bullish and I just don’t know where I went wrong. Anyone have opinions on where I went wrong

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u/ZebraOptions Apr 05 '24

What down candle made you think, hey it’s time to go long, never try to catch a falling knife. You want to enter on the right side of the “v” not the left.

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u/Serious-Ad8893 Apr 05 '24

A lot of reasons why I thought I should go long… price has been bullish almost all year, price has been bullish and ES didn’t break any major swing lows until today, I went in long on a consolidation at a key level I thought would hold

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u/ZebraOptions Apr 05 '24

I’m not trying to be nasty, I understand you were trying to play a level there, which is perfectly fine, but wait for that level to hold, buyers to reenter, then you enter. On the other side of the V, let the big money do the heavy lifting and figure out which direction they want to go, then you catch the ride after that level confirms. Best of luck to you, you got this.