Traders often post successful trades on social media, but I rarely see losing trades. Losers can be a valuable learning tool. Here's one that happened to me this AM. #Wyckoff #learntotrade #tradingcourse #daytrader #trading #daytrading #SP500 #ES_F
Coming in, we had a Spring set up during the European session. This is on the 240-min chart. After penetrating a swing low, price reverses and closes above that swing low. That's a Spring. They are especially good in uptrends. And this one had pretty much everything going for it 
Although the daily was showing supply, this spring seemed to test the big acceleration up on 8/27 & was holding atop old resistance/now support. We call this a Jump Across the Creek (JAC) & anticipate a pullback for potential trade entry. A Spring in this situation is ideal.
Just after the US Open, the 5-min chart became oversold & also offered a Spring as a Test of the higher time frame 240-min Spring. How good is that? A Spring testing a Spring! As the 5-min Spring was tested, I took a long. Note the Weis Wave showed demand coming in off the open.
My target was 4530, maybe higher. Price pushed up & broke resistance, though I wasn't too excited to see the volume & close on bar A. But it did break resistance. Falling volume on the next 2 bars suggested buyers were absent, but it was bar B that said supply was still present.
B picks up in volume as price falls. Subtle, but a clear clue the trade was in trouble. It's only salvation was holding the Supply Line. The paltry upside volume on the Weis Wave was also a concern. Stop to break/even. Bar C was the clincher and exit for a scratch trade.
Some day, I'll be able to reverse a failing trade, but I'm not that good - yet. We always have to manage our trade, even ones that set up so nicely as this. Reading price & volume objectively is a big help. Hopefully, you see the value in this, despite it being a loosing trade.
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