FB Trade on Apr 4, 2019 09:56 from shefmcoy: Tradervue User Stock Trades.

Long-term Technicals
Yesterday we broke out above the 174 resistance area and ran up to 178 but gave back all the gains selling off in the afternoon with market back down to the 173 level. Bouncing hard pre-market as FB has been upgraded to a Buy from Neutral with a price target increase to 200 by Guggenheim.

Intraday Technicals
There is a very evident range setup here between yesterdays high and low price. 177 area looks like a good short entry based on the price action that was showed in this area yesterday.

Managing the Trade and Reading the Tape
Shorted as I saw price moving straight into yesterdays high of day resistance of 178 with offer holding at 177.80 decided to short and added on big drop trough 177.50 as heavy selling was on T&S
I added as price retraced and I saw heavy seller hitting the bid at 177.70s I tried to add even more at break of 177.70 as I saw the offer chasing down the bid but I didn’t have anymore buying power I didn’t cover on first drop because market was looking like it was rolling to the downside
We got a bounce back up over vwap and this made me nervous but I did not cover because the market was rolling over very hard. Covered at the premarket highs of 176.70 market looked like it needed to bounce. Re-shorted as the offer held below 177
Stopped out of all just above 200ema on 1min as we looked over extended to downside on the 5m timeframe as did the market. Qs at yesterdays lows

Trade Review

Did you calculate proper share size and technical stop loss level?
not quite, but on a little to much risk to early

Did you have patients and fight for the best price using the tape?
Yes i fought for price and got behind persistence seller but not to much patients i was a little early

Did you trade with the overall trend of the stock/market? If not the did you take profits early to reduce risk accordingly?
yes

B