Thesis: We were opening below 30 minute supply with an overnight rally. I wanted to see a consolidation below supply to show acceptance that sellers do not want to push higher with good signs of selling to the downside.

Market Context: We see aggressive selling off the open wiping out the bids where we then saw a bottom at 4150-4155. We rejected off VWAP but I waited patiently because I saw the ask was weak so I was not convinced that this was an area for sellers to hold

Where/Why did I enter: The bounce pushed a bit higher to slightly below the open where sellers stepped in by showing a 300 and 200 passive seller right at 4166. I entered puts as I saw aggressive selling right after and stop loss right at that sell wall.

Where/Why did I exit: I exited when we saw a strong push of LOD but a wick right after showing absorption on the tape. I knew this was an area where we bounced so I really wanted to see follow through in order for me to continue to hold the trade

How can I improve: One thing I could have improved on in this trade is maybe being a bit more patient because we had a selloff all day today and my stop loss or target never hit.

What I did well: I was patient today as I did not want to enter right off the open but wanted to see the ASK get stronger, took profits when the strong selling showed absorption at the lows, and had a no emotion trade today

Confirmations: Bookmap showing a strong seller wall right below supply, strong aggressive selling right below the ask

Entry: 4164

Stop: 4166

Target: 4135

R:R: 1:14.5