CVS Trade on Jul 11, 2019 09:33 from MarcoG: Tradervue User Stock Trades.

Set-up : 3min ORB
Gap : 7%
Symbol Name: CVS
RVOL : 8.70
Catalyst : White house changes mind on drug rebates
Short Float: 1.36%
Side : Long
Size : 100 shares
Entry : 59.97
Takes :
Exit : 59.31
P/R :

Comments: I have traded CVS due to the news: Healthcare managers across the board were rising Thursday after the Trump administration dropped a plan to tighten the rule on annual rebates that are worth billions of dollars to the industry. The plan, which would have eliminated pharmaceutical rebates paid to Medicare Part D and Medicaid plan sponsors, was part of President Trump's plan to lower the prices of consumer prescription drugs. The decision reportedly was the result of months of infighting between the White House and the Department of Health and Human Services and spurred backlash from the pharmacy benefit managers that administer prescription drug programs.

Actually I didn't really got the importance of the news, I will investigate on the quality of such catalyst.
I have held as usual for the first 3min candle to be formed. It was resulting in a nice breakout, I have just anticipated the 60 level. Unfortunately the stock just reversed against my side. Cause the drop has been huge I held the position, I thought that an immediate pull back would have occurred but it didn't. I didn't want to hold up to VWAP cause a failure would have cost me too much!!
I am happy though for my exit, cold blood and holding tight. If the pullback would have occurred as usually does I would have contained my loss, but still it's not outside of my range!
Thus the consideration here is on the catalyst perhaps!

07/12/2019
I have studied this trade and I have realized that I missed the resistance level at 60. There are 2 pivots from 05/08/2018 and 03/26/2018. I would not have longed that if the resistance line was not tested and became support. Good lesson here on paying more attention to set down technical levels in pre-market

07/16/2019
I could have give it a try with a small risk once faded below VWAP. The rejection of the 60 Resistance Level has been confirmed also once price sat below pm lows. Would have been a nice Fade Play! I think I have to start to trade all what I see according to my book of rules. If I spot a setup that belongs to those I have back-tested and practiced I have to trade it! I limit my self soo much picking few trades per week and never more then 1 green trade per day! Perhaps I should lower a bit my risk to give me the psychological opportunity to have more then a shot per day!