Thesis: I was watching to see if the market would sell off the key level at 4040 which we saw strong volume in the past days. 

Market Context: We opened up chopping around the 4040 area so the 4040 area was invalidated

Where/Why did I enter: I entered off a a retest of 4040 following a strong red body candle right below 4040.

Where/Why did I exit: I exited at my stop loss as the trade chopped around the 4040 area and was later on invalidated

How can I improve: I believe this was a bad trade from my end because seeing that the market opened up chopping around my 4040 key level was an indication that it was not respecting that level. If I were to enter puts I should have waited for a larger sell off to then see a retest off that 4040 to indicate the strong selling volume.