AMD Trade on May 28, 2019 11:03 from PriceActionBarByBar: Tradervue User Stock Trades.

High 2 (Late Entry)
JE
AMD
May 28, 2019

Big Picture
Overall Market was Neutral to Bearish
Sector – Neutral to Bearish
Corresponding stocks were also Neutral to Bearish

Intraday Fundamentals
News Catalyst: New PC push at tradeshow with new chip
ATR: 1.25
RVOL: 2.19
Price Range 26-27
Short Float: 10.32%
Avg. Volume 66.9M

Technical Analysis – Long Term
Long term bear trend line at 29

Technical Analysis – Midterm
Gapped up above the trading range on the 15 minute chart

Technical Analysis – Short Term
Volume spike on breakout
Holding above MA
Decreasing volume in pullback

Reading the Tape
There are large numbers of big long orders coming down the tape vs small retail orders. (Prefer to be doing the same thing that the institutions are doing)

Trade Management
The preferred entry was the 12th bar of the day, after the inside bull signal bar at the end of the micro wedge bull flag, however, once I got to the chart and saw the pattern, I jumped in as fast as I could, my entry was on the small bull flag breakout with a Tier 1, stop was one tick below signal bar and added Tier 2 at the next bull flag, however, with the market becoming more bearish, I was skeptical about the strength of the trend that was already above the ATR. Once the market began to turn I jammed my stop at breakeven on the added position.
After seeing the moving average hold I decided re-enter the market, however, I entered at the top of a bear flag which is a losing strategy and was stopped out of the strong bull trend. Profit targets were prior days highs.

Trade Review
What could have been done better was to make the first entry instead of chasing the trend up, but more importantly giving the trade room to move because once a strong trend has been above the moving average for more than 20 bars, (over 2 hours in this case), generally the first test of the moving average fails and turns into a test of the high of the day. Knowing this, I should have trusted the probabilities and allowed my trade room, with the appropriate risk size.

Trade Idea
The 15 minute chart ended in a tight bear channel (bull flag) perhaps a trend from the open bull trend. Important levels are 29.66 – 28.86