MCD Trade on Jul 29, 2019 09:44 from Cklamb: Tradervue User Stock Trades.

MCD
Intraday fundamentals
A good earnings report on Friday. It traded at an all time high pre-market and sold off just like the last earning report. I have heard that it is trading above the SPY.
GS initiated coverage with a 250 price target, price target raised to 230 by tier 2, UBS raised target to 218, tier 2 raised target to 210 from 200
Technicals
ADV 5M RVOL 1.79 ATR 2.51 BETA .49 Short 1% Inst Own 70%
Daily

Hourly

Intraday

Trading Plan
I am looking to get long this if it holds 215 today. 215.40 with a stop at215.10 making this a one lot run
215.75 and 215.50 are both levels from the prior day that may be good opportunities to take a long depending on the tape and the set up
I will look at the opening action and see if it looks like has a general trend in the opening and the possibility of that trend reversing for a micro trend break scalp
Always look for tests of VWAP
Reading the Tape
I did not watch to tape for the early scalp. I pulled the trade off of the 217 level that had been a few times over the last two premarket sessions and tested in Fridays trading
I was reading the tape for the support paly off of 215 another level tested in the last two sessions. I think I see what I want to see here. But, there really was nothing that would have back up my plan to long at this level, Nor, did I see anything that would have told me not to try the long
Trade Management

Notes
• Long wick on prior candle slowed the trade decision
• I hit the offer as it broke below the wick
• 216.70 is NOT 217!!
• Risk was a little more that what I wanted to play on this short
• Had a long bias on this Pre-market
• I don’t believe this set up is worthy of a Play book…
• Lesser scalp trade
TRADE GRADE
Aspect Score Poss. Notes
Preparation 7 10 Second session following this price action
Hard Work 6 10

Patience 6 10 This was a trade it now or not trade
Plan 8 10 Looking to short from 217 to 216
Discipline 2 10

Contribution NA 10

Replay 0 10