AMD Trade on May 29, 2019 10:00 from PriceActionBarByBar: Tradervue User Stock Trades.

Low 2 Pullback to the Moving Average
JE
AMD
May 29, 2019

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

Intraday Fundamentals
No News Catalyst
ATR: 1.29
RVOL: 1.44 (above 1 is good above 5 is best)
Price Range 27-29
Short Float: 10.32%
Avg. Volume 69.1M

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

Technical Analysis – Midterm
Market turned down at the long term bear trend line and started a bear channel on the 15 min

Technical Analysis – Short Term
Volume spike on down move
Holding below MA
Decreasing volume in pullback

Reading the Tape
Very large sell orders coming down the tape at the whole numbers.

Trade Management
The first trade I jumped in late because I missed my entry but knew the market was trending down, I believe I did this because I wanted to get into a trade, the market immediately reversed and stop was hit. That was my lesson to sit tight and not to chase trades. The market went on to evolve into one of my A1 setups that I have broken down in my TPP, a low 2 pullback to the moving average, where I put on a Tier 3 trade risking 20c. Entry was one tick below signal bar and stop was one tick above signal bar with my 1st profit target the primary trend extreme. Once first profit target reached I took off one tier (now a Tier 2 trade meaning I now have 20% of my daily allowance at risk) The market continued to breakdown and evolve into another low 2 pullback to the moving average where I decided to put on more risk, adding the one tier back to the trade with the next profit target the primary trend extreme, once profit target was reached, took off some risk (one tier). Then the market immediately reversed up at the same time SPY reversed up, so I decided to book profits.

Trade Review
What could have been done better is to continue to use my technical stops until I get a better feel for the markets, because my technical stop was at 28.30 the bottom of the first trading range. Generally once a market spikes out of the tranding range, it goes back to test that range, as it did in this case going back up to 28.27, and I could have stayed into the trade and would have been able to profit the bottom of the move because the next profit target would have been the support/resistance area of yesterday at 27.75 and the market went down to 27.74.
(I could use the 1 minute chart for entries as well; the bar at 9:45am was a perfect textbook low 2 pullback to the moving average netting me $2 on the day)

Trade Idea
AMD ended the session by breaking the bear trend line which could possibly be the end of the bear trend and on possible scenario is seeing AMD come back into the range to put in a double bottom before the trend is reversed into a bull trend.