TSLA Trade on May 3, 2019 09:42 from kerobo0000: Tradervue User Stock Trades.

Rationale:
-on Thursday, news came out the TSLA was raising 2.3B in stock and debt (with Musk participating)
-the stock rallied on this news, as TSLA just reported one of the biggest cash drains / quarterly loss this quarter and the market expected TSLA to raise money in some way b/c they knew TSLA was likely tight on cash
-on daily chart Thursday volume was green and elevated, while also printing a hammer candle (opened higher, traded down then quickly reversed to close near the highs - bullish signal)
-today (friday), I was looking for continuation to the upside
-the fact that TSLA has high ATR and high short interest made this stock very attractive given the news catalyst (capital raise) and technical setup (hammer candle)

Recap:
on the open, TSLA had two big green 5min candles on elevated volume, then pulled back into VWAP & hourly pivot line (which is where I entered)
-after my entry I noticed the stock wouldn't make it below the hourly pivot line at 246.31, then noticed price action forming a wedge)
-at this point I was 70% sure that it would break to the upside (catalyst + volume), and this could've been a really big trade if I had the ability to scale-in
-will review the tape to note other key moments in the trade

How much risk should/did I take? $4,025 (~20% of account), an appropriate level of risk, but would like to be able to take on more when price action is supportive of the trade idea

Trade Planning
-structure: calls
-major support: 246.31
-add point: NA
-stop loss: break /hold below VWAP
-take profit price / risk-reduction plan: target = 1 ATR move (based on daily range)