Implala Platinum Graveyard Doji/ Kangaroo tail reversal

Bearish flag

On 13 August 2020 we had a Doji/Kangaroo tail reversal candle on the signaling a potential reverse of the share price.

This occurred at the 116 day highs but failed to reach and break through the highs we reached we saw back in February this year.

 

 

Looking to short the share below the low of the doji candle, by placing a sell stop order below the low of the doji (R169.88)

 

Placed a sell stop order at R168.61 and my stop is above the high of the doji (R176.80). My entry price R177.69. Targeting the The previous support level at R134 levels

 

Trade mechanics 

 

  • Entry: 168.61
  • Stop loss: 177.69
  • Risk: R8.08
  • Account Balance R999
  • Max risk per trade: R20
  • Position size: 2.47 (rounded to the floor) 2 contracts



Perfect Trade

 

  • Did I get the signal (The Doji/Kangaroo tail)
  • Confirmations (Trades below the low of the Doji)
  • Did I enter as per plan (sell stop order below the low)
  • Did I set my stop accordingly ( higher than the high of the Doji)
  • Did I set my position size correctly (2% risk)
  • Did I monitor my trade correctly (adjust my stop if necessary in the direction of the trade)
  • Did I exit as per the plan (stop or target)
    • Updated stop loss. R171 on Thursday August 2020 based on 2X ATR
    • On friday 2XATR was at above current stop at R175.80 meaning doing nothing with the trade.
    • On 24 August 2020 I was stopped out.

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