How I set the bias
BILI 0.00%↑ was after a big volume reverse hammer day and the price action was up into the previous bounce point in the pre-market.
IT was already in full ATR move when I looked at it at 9:00 AM so I was expecting the move to 10.40 area at least.
Entry rules
I waited for a high volume reverse hammer at 9:07 as a signal of denial of that 10.65 level, and entered on the break of that reverse hammer candle.
Trade management
Unfortunately the stop has not held the open erratic price action and I got stopped out first as I move my stop to break-even after I got a 1R move on these which already happened and the hammer bouncing from the 200 SMA on 1-min chart was quite concerning and I was expecting the 10.40 move only.
Once, I saw the denial of the 10.65 level once again, I re-entered the trade with a stop of the HOD.
On the break of the high volume level denial candle, I added up and tightened the stop back to the 10.65 level to keep the risk same.
I partialled at R3 as it is a usual bounce point, but then added up again after the small ABCD pattern on 1-min chart bouncing from the red EMA.
I partialled again after the long candle breaking the LOD and exited the rest after the reversal-looking pattern at 9:47.
It turned out to be a bigger move, so I could have held the last bit longer, but we never know the end of the move and are limited to our experience expectations and fears. Even with this mistake, it was the best trade of my week.