$IREN (+0,62%) Today I would like to share the trading support from AI with you again. As always for those interested in day trading 😉
History: I closed my trade again yesterday at the close of trading - you can see the details in the feed from $IREN (+0,62%)
Those who follow me already know that I prefer to post before and during the trade instead of afterwards, so I hope to be able to give a realistic picture, regardless of how the trade ultimately turns out. The post will be updated as usual.
This was my prompt in preparation, as you can see the prompt is quite simple.
Prompt: What is your assessment of Irish today, the last few days - especially yesterday - there was a strong bull run. How would you set up the trades today? Where do you see relevant levels? (Chart was added to the prompt - screenshot or link both work)
Below you can see the AI recommendation for today's trades from the market open at 15:30
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Strong chart picture! IREN has made massive progress since our last trade. Here is my full analysis: https://www.tradingview.com/x/FGRkavnN/
📊 What the chart shows (5min, several days)
The rally of the last few days:
- May 21: ~$54 → base
- May 22-23: Stepwise recovery to ~$58-60
- May 27: Impulsive move to ~$62
- May 28 (yesterday/today): Explosive run from $62 to $68.45 daily high - almost +$6 in one session with massive volume
This is a classic momentum breakout with a staircase structure - higher lows, higher highs, each consolidation was used as a springboard.
VWAP (blue line)
The VWAP follows the price from below - currently at ~$64.25. At ~$67, the share price is well above the VWAP. This shows strong buyer control, but also increased mean reversion risk.
🎯 Trade scenarios for today
Scenario A - Continuation Long (preferred) The price consolidates after yesterday's run. Typical pattern: setback to VWAP $64.25, stabilization there, then next leg up.
- Entry: $64.00-64.50 (wait for VWAP touch with stabilization)
- Stop: $62.80 (below $63 support)
- TP1: $68.45 (daily high)
- TP2: $70.00-72.00 (next psychological zone, low volume node)
- R/R: ~1:3
Scenario B - Breakout Long Price breaks $68.45 with volume - do not wait for a setback.
- Entry: $68.60 (confirmation above high)
- Stop: $66.50
- Target: $72.00-75.00
- Risk: Fakeout possible after a strong run
Scenario C - Caution / no trade If the price falls below $64.25 directly at the open without stabilization → no long, risk of a deeper correction to $62 or $60.
⚠️ What to watch out for today
The volume yesterday was exceptionally high - this shows genuine institutional interest, but is also a warning signal for "buy the news, sell the fact". After a +$6 day in one session, caution is advised when blindly buying at the open.
My clear plan for today: Wait and see if $64.25 (VWAP) holds as support → only then go long with a tight stop. No buying directly at the open into the strength.
Up to this point I have copied the output from AI 1:1.
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So, now I'll wait for the pre-market performance and see how the opening range (the first 30 minutes) behaves.
👆Update1: Derived from this, these would be my focus areas that I will keep an eye on today in the first 30 minutes from 15:30🤓
One hour before the start of trading at 14:36 (NY local time 08:36) I have the setup checked again, what does Claude say?
👆Update2: After just under half an hour, shortly before 16:00, it looks like Scenario A will take effect for now. I've placed a small order on the $64.50 zone, just hedged. Then we'll see.
👆Update3: As always, the opening range is the "hot" phase, almost looks like an opening range reversal. I'm sticking to the recommendation, I'm in with a small lot (40 shares approx. 2,500 $), I can always add more.
👆Update4: 16:40 I added another 10 to reach half the target size 50 out of 100.
Unfortunately I can't add any more pictures, seems to be a limitation (10 pictures) of GQ?! I.e. the rest will only be with text and links to chart images.
👆Update5: 17:30 What does Claude say about the interim status? https://www.tradingview.com/x/gp0lgAeo/
🎯 What to do now?
The trade is moving in the right direction. Two options:
Option 1 - Pull stop to break-even Stop at $64.50 set → no more risk of loss, position runs free. Target $66.50-67.00.
Option 2 - Staggered sell
- 25 shares at $66.50 (next resistance)
- 25 shares at $67.50-68.00 let run
Most important action now: tighten stop to $64.50 - you were underwater for an hour, now up - eliminate the risk!
I have now set the SL to break even, then the trade can continue to run relaxed, either with +/- zero out, or profits will be taken in the evening. The plan is to close the trade in the last 5 minutes of trading (21:55-22:00) at the latest. If it stops me out before then, I can get back in depending on the setup.
I have informed Claude that I have set the SL to breakeven and will get out by the close of trading at the latest. Here is the final feedback from Claude. As soon as I close the trade, it will be added here.
Perfect plan! That's professional day trading management. 👍
✅ Your setup is solid
Stop $64.60 - in the worst case break-even or minimal plus. Very good.
Closing price 21:55-22:00 - absolutely correct. IREN currently has too many open risk factors for overnight:
- Convertible notes pricing still outstanding → may come after-hours
- Beta 4.2 → every market news moves IREN disproportionately
- Overnight volatility is unpredictable after yesterday's +$6 run
🎯 Targets until close
LevelMeaning
$66.50
First resistance - take 25 here?
$67.50
Second resistance - close the rest
$68.06
Daily high - when breakout comes
⏰ Time management
Still ~4.5 hours until close. Typical pattern: there is often another move between 14:00-15:30 ET. The last hour (15:00-16:00 ET) is often the most active for momentum stocks like IREN.
If the price is not yet at $66.50 by 15:00 ET → at the latest then partial sell and rest to close. No hesitation at 15:55 - go through with the plan!
👆Update6: Well, today the SL ended the trade. It triggered at 64.61$. This means that today's $IREN (+0,62%) trade is +/- zero (+2.34$). https://de.tradingview.com/x/aXp7oHcH
👆Update7: Quick check half an hour before close of trading. What does Claude think of the day
💡 Conclusion for today
Your trade management was exemplary today:
- Entry into Scenario A zone ✅
- SL pulled to break-even ✅
- SL at $64.60 took you out at ~break-even ✅
- Currently the position would be -$0.91 × 50 = -$45 in the red
You went through with the plan. Today was a difficult day for IREN - after yesterday's +$6 run, the air is out. Right decision, don't take any overnight risk.
My conclusionA day like there are many in day trading, no losses means risk management is working!
I'm still keeping an eye on it, theoretically the dip of the last hour(s) could also be a stop hunt / liquidity grab by market makers
Update8: 29.05. Short summary of the "day after"
The vola at $IREN (+0,62%) is and remains a risk factor. Exiting with the SL was the right decision. Today the price fell to just under 60$ within an hour of the opening. That was yesterday's worst-case scenario C. If this zone holds up as support, I will get back in 😁
Update 29.05. 21:37: The VWAP of the session is broken, my entry signal for a new lot🤓
Let's see what next week brings
