SQ Trade on Aug 5, 2019 10:19 from Cklamb: Tradervue User Stock Trades.

SQ
Intraday Fundamentals-
• Shares of electronic payments company Square Inc. (SQ) are falling in Thursday's after-hours market, after it gave guidance that was lower than analysts anticipated.
• At 5:36 p.m. ET, the company's shares had lost 5.22% in the after-hours market, to trade at $76.75. Volume after the bell was almost 2.5 million shares.
• After the bell, Square reported a second-quarter loss of $7 million, or 2 cents a share, on revenue of $1.17 billion. It said third-quarter revenue was expected to be in a range between $1.13 billion and $1.15 billion. For the full year, the company said it was expecting revenue in a range between $4.41 billion and $4.47 billion.
• Square also said 2019 EBIT was anticipated to come in a range between $405 million and $415 million.
• Stock sold off Friday and recovered with the overall market on Friday afternoon.
• It has broken the 67 support level going into the morning and is currently struggling to hold 66
• MARKET IS A GENERAL SELL OFF THIS MORNING

Technicals
ADV 8.5M RVOL 5.14 ATR 3.03 BETA 3.3 Short 10% Inst Own 71%
Support levels 66. 64, 62 Resistance 68, 69.80, 70.80
DAILY
HOURLY

INTRA

Trading plan
• Look for a flush in the opening to 65 -64.. better if you can hold until 64
• If it flushes below 64… wait to see if it is weak enough to move to 62. If it looks that weak take short scalp off of 64
• If this trade in the opening minutes you keep the size small with a wide stop
• Compress the time frame

Reading the Tape
The third trade was taken because there had been a large bidder at .80 that seemed to get bigger every time the price would come within that range. Every time, the offers would lighten up and it would move back to the .90s. It was not until after I entered the trade that the bidder started getting smaller as the price approached 64.80.
The last long was taken after a long time of watching. I did notice that it did seem a little stronger as it came back into 64.00 and stayed steady until it had broken trend. After that, they only thig I saw was 64.20 hold but that was as much on the chart as the level 2.
Trade Management
Resistance break

Trade Review
• This is not a trade that I know how to work. It should work like a VWAP break but I cannot seem to work it in a similar( I have no play book for this)
• I needed to be out of open sizing for a few reasons
o I would have set a tighter stop on a bigger lot
o I would have held for something to close above or at the level
o This is a good example of “not taking on enough risk is taking on too much risk”
• I missed the first bounce off of 65 and was looking for a continuation. I was the wrong side of this leg
• I missed a plan on PINS to take off 32.30 while I was watching this.
• I think I pressed this because of missing these two opportunities before.
• The Risk vs Reward even if this went my way was out of whack with my approach.
• All and All a study in what not do in a trade
• I should have been stopped out on the first candle because I did not even wait for the hold of level in a set up that I don’t work well anyway
Trade Grade
Trade grade
Aspect Score Poss. Notes
Preparation 5 10 No.. this was pushed
Hard Work 6 10 I followed the tape for a bit into this trade, but, I should have written down a plan as it approached 66
Patience 4 10 No… it pushed for a trade here
Plan 8 10 86 target due to stop set
Discipline 8 10 No… this in not a trade that I am even trying to work on
Contribution NA 10

Replay 0 10

Trade Management
VWAP BREAK

Trade Review
• This is trade that I should take. I need to take it on the pull back, a retest or something that looks like consolidation.
• I got a little anxious as the tape was looking strong in the break above
• I have this way to much room. This is not how to manage risk on this type of trade.
• I was willing to give back the entire move from 65. WTF???
• It shows that I did not have the plan thought through before entering this trade
• I have play books for this type of set up and none of then allow for that kind of stop
• The stop throws the reward out the window and did not offer enough reward for the probability
Trade Grade
Aspect Score Poss. Notes
Preparation 7 10 I was prepared to try long off a break of VWAP, I have a set a rules that adapt to this

Hard Work 6 10 It is hard to say I watched the tape. I waited for the level, but, I did not write a plan down to look over before entry
Patience 4 10 No… it needed to wait for consolidation, a pull back or a retest
Plan 5 10 Not a good one
Discipline 3 10 No… I have a set of rules that would have helped mitigate the loss on this type of trade.
Contribution NA 10

Replay 0 10

Trade Management

Support Play

Trade Review
• Not something in my play book
• This was taken on the though the buyer would hold .80 long enough to get this back above 65
• The risk was extremely well defined
• I was anticipating a hold here and a step up.
• Although there was a plan that offered good RvR and the risk easy to set, this was still a mdi range attempt. Mid range attempts usually don’t work.