WMT Reddit Mentions | ChartExchange

The overall market was fairly weak today, but my scanner showed relative strength in several software names. That gave me an initial area to focus on. I looked at U first and kept NOW on my watchlist because its daily chart had shown strong price action the previous day.
What mattered most today was that I wasn’t trying to find reasons to trade. I was actively looking for reasons **not** to trade.
U initially looked attractive. The 15-minute setup around the EMA20 was developing well, and the 5-minute engulfing candle had strong volume: 59.29K versus 41.83K on the prior red candle, roughly 142%.
But the final higher-timeframe check rejected the trade. On the 1-hour chart, price was not being supported by the EMA20. It was rallying from below and testing the EMA20 from underneath. I wanted to see a reclaim, a retest, and actual acceptance before treating it as support. I canceled the order.
WMT was another good-looking setup. The 1-hour chart was near the EMA20 and the 15-minute chart produced a strong bullish candle with volume. The problem was location.
There was a major prior high-volume bearish candle around 109.6–109.7. If I entered around 108.8, I would run into that supply area at only roughly 1.1–1.2R. The signal looked good, but the available space did not. I passed.
WMT later pushed above 109 temporarily but eventually got rejected from the higher supply area. That does not mean I “predicted” the failure. It simply confirmed that respecting the nearby resistance and poor reward-to-risk was reasonable.
The trade I did take was NOW.
The daily chart had bounced from support near 139. The previous session formed a bullish pin bar on 17.5M volume versus 10.73M on the prior EMA-support candle, and its volume was also higher than the previous five bars.
The 4-hour chart held the 139 area and the EMA20 was rising. On the 1-hour chart, price retested the EMA20 without breaking the structure, then printed a strong bullish candle on roughly 924K volume.
However, that candle ran directly into a descending trendline, so I did not enter.
I waited.
The next breakout attempt came with approximately 1.34M volume. On the 15-minute chart, price had already shown strength by holding near the top of the morning impulse instead of selling off from the trendline.
Then the actual breakout candle printed with **419.95K volume**, compared with only **190.46K** on the previous pullback candle — about 2.2x the volume and also greater than the prior five bars.
There were still about six minutes left before the 15-minute candle closed. I wanted to chase it.
I didn’t.
My trading timeframe was the 15-minute chart, so I waited for the 15-minute candle to finish. The 5-minute chart also showed a brief breakout retest and immediate buying response.
I entered NOW at **142.65, 8 shares**.
Stop: **139.63**
1R: **145.67**
Target: **149.63**
Initial risk: **$24.16**
After entry, the lowest price was **142.48**, giving me an MAE of only **-0.06R**.
The high was **147.57**, giving me an MFE of approximately **+1.63R**.
At 145.67, I followed my plan and sold half at +1R. The remaining position eventually came all the way back and was stopped around breakeven.
Average exit: **144.16**
Final result: approximately **+0.50R**.
Watching a +1.63R open profit almost completely disappear was uncomfortable. When price returned to the 142.7 area, I could feel the hope that it might turn back up again.
But I did nothing.
No adding.
No changing the plan.
No emotional exit.
The biggest lesson today wasn’t that I caught a breakout.
It was the full process:
**I rejected U because of higher-timeframe location.**
**I rejected WMT because of nearby supply and poor space.**
**I waited for confirmation on NOW.**
**I took partial profit at 1R.**
**And when the remaining open profit disappeared, I still followed the plan.**
A good signal is not automatically a good trade.
Location, space, structure, volume, risk, and execution all have to survive the filtering process.
And today’s best reminder was simple:
**My emotions are allowed to move. My hands are not.**
*The trading decisions and observations are my own. AI assisted with translation, editing, and organization. This is a personal trade journal, not financial advice.*