BacksideTrader

📊 Trader | High Conviction Setups • Key Levels • Short Zones | Not financial advice

[BacksideTrader @BacksideTrader]

$CANF got some long at support and cut the other one be.

[BacksideTrader @BacksideTrader]

$LHAI short round 2, 1/4 left.

[BacksideTrader @BacksideTrader]

$LHAI shorted the rejection right off key levels I mapped premarket then missed the open move/rejection but no big deal, still a good trade with cheap locates. All live in the chat.

[BacksideTrader @BacksideTrader]

@Philly1togo and $NNBR yesterday

[BacksideTrader @BacksideTrader]

$CUPR short and covered. Nothing much this morning with the cost of locates, but i managed to catch a short on CUPR at key levels, missed the add at the fbo but with ssr it was hard to get filled, that's part of the game. Lots of missed opportunities today with locate costs, hoping next month is a little better

[BacksideTrader @BacksideTrader]

$GVH short at key levels, all out. Lg for round 2.

[BacksideTrader @BacksideTrader]

$AZI short. Mapped AZI’s key levels before the move so I was prepared for either outcome. Had both scenarios ready, rejection at the highs for a potential short, or continuation if it broke and held. Everything was tracked live in the chat, staying reactive to price while letting the levels dictate the plan rather than forcing a bias.

[BacksideTrader @BacksideTrader]

Watchlist: $NNBR(NVDIA news) $SRFM(Palantir news) $PETS $TNMG

[BacksideTrader @BacksideTrader]

$CANF short, starter and then rehit at rejection. Sometimes you have to be quick and take the trade when you see a crack or failed retest, not every move needs patience or perfect structure.

[BacksideTrader @BacksideTrader]

$IQST I shorted the rejection level I mapped out, once it pushed into that level and failed to hold, it showed clear rejection and inability to build any strength above it, then covered into the fade once downside started to accelerate and price rolled over cleanly.

[BacksideTrader @BacksideTrader]

$WEN short on restest/fail and covered. I normally don't short stocks above $8, but WEN was an exception this morning due to its large float, which reduced the squeeze risk.

[BacksideTrader @BacksideTrader]

$WEN meme short, clean shorts into pre mapped key resistance levels. Levels area were already identified ahead of time as prior supply / exhaustion zones, and price ran straight into them after the morning push.

From there, the unwind followed through back into the mid range where price started to stabilize again after the initial flush.

Key point: this wasn’t luck or prediction. It was pre-marked levels + live execution + patience on the reaction. Price hit the zone and failed.

All levels and the short idea were called live in the chat before and during the move https://t.co/kYTnpjjR1B

[BacksideTrader @BacksideTrader]

Watchlist: $FRTT $EHGO $VTAK $ATLN $WEN (meme rally)

[BacksideTrader @BacksideTrader]

$HSCS starter at the first key level rejection. Didn't force it on the bounce. Waited for the push into the higher resistance level and re hit the short when it rejected. Two separate key level failures, one thesis.

[BacksideTrader @BacksideTrader]

$AIXI, chyna pump short, round 1 and 2.

[BacksideTrader @BacksideTrader]

@cxxxrbon Yes, I was long ICCM, but that doesn't diminish the fact that it was a good short setup.

The goal here is simply to demonstrate what a quality short setup looks like. If I had locates available, I would have shorted it as well.

A good setup is a good setup, regardless of bias.

[BacksideTrader @BacksideTrader]

One of the biggest lessons I've learned is that stock selection matters more than most people think. Most traders spend their time looking for entries. The real edge is finding the right stock in the first place. A great setup on the wrong stock often fails. A decent setup on the right stock can outperform expectations.
$ICCM $EHGO $CRVO
Catalyst. Float. Dilution risk. Market cycle(Weak-Strong). Stock selection is the edge AND patience pays. #smallcaps #Trading

[BacksideTrader @BacksideTrader]

There's no real edge here. This resistance/retest strategy has been around for years.

But many traders have a tendency to front run these levels instead of waiting for confirmation, which often leads to poor entries.

This chart isn't some hidden setup or magic formula, it's just a reminder that patience and execution matter more than trying to be first.
https://t.co/6fcqaeMZPs

[smokeandmirrors @Topsandbottom4]

@BacksideTrader Thank you for the edge

[BacksideTrader @BacksideTrader]

And to follow up on my previous tweet, here's another example with $ATPC of why patience matters.

No, it doesn't always work like this. Sometimes a stock taps resistance/supply zone once and fails immediately with no retest.

But more often than not, the market gives you a second chance. Instead of chasing, let the stock prove itself. Let it reclaim the level, retest it, and show weakness.

Patience won't catch every move, but it can help you avoid a lot of bad trades. That's one of the biggest edges in trading in my opinion.

#smallcaps #trading
https://t.co/x1GoTKSd53

[BacksideTrader @BacksideTrader]

One of the biggest lessons I've learned is that stock selection matters more than most people think. Most traders spend their time looking for entries. The real edge is finding the right stock in the first place. A great setup on the wrong stock often fails. A decent setup on the right stock can outperform expectations.
$ICCM $EHGO $CRVO
Catalyst. Float. Dilution risk. Market cycle(Weak-Strong). Stock selection is the edge AND patience pays. #smallcaps #Trading

[BacksideTrader @BacksideTrader]

$CRVO: starter short on the first move, then re hit on the retest of 7.43 when it failed to hold key level. Missed the clean 7.43 retest entry later but still got well positioned and covered into the offering dump