HRL Trade on Aug 23, 2019 09:46 from beno: Tradervue User Stock Trades.

Big Picture
- Lingering fear from China trade talks and FED decision on interest rates
- High probability of further rate cuts
- SPY trading at top of 282-293 range
- Q’s are forming an ascending triangle on hourly chart

Markets Intraday
- PM: SPY gapped higher $1 AH but proceeded to trade down to 290.5
- Morning: SPY trading down hugging VWAP
- Fed / Powell has Jackson Hole meeting today to give hints on future rates
- Trump tweeted about China, markets tanked $4

Technical Analysis – Long Term
- Long-term uptrend and consolidation
- Just broke above $42 range resistance level

Technical Analysis – Intraday
- Q EPS beat by 5.71%
- First move was down but blew past $42 support by 50 cents

Original Plan
1. IF first move is down:
a. Long it on re-test of 42$ level if SPY is slowing down its down move, 3R
b. Lighten up at $43
c. Re-add if holding above $43 and pulling back into 43, 1R
2. IF first move is up:
a. Wait for $43 level to hold or wait for pullback, 2R
b. If pullback extends to $42, get in with 2R only if SPY is showing strength

Execution Notes
Since the first move was down I followed my plan and tried to long it on weakness just above the $42 level. I got filled for two tiers risking 2R at 42.07 with a stop at 41.87; I quickly got stopped out and price proceeded to move lower.

Grade Questions

Did I follow my plan? (yes/no/with mods): yes
Which modifications?: N/a
What justified the modifications?: N/a
Did you hold a core position until you noticed a reason to sell?: yes
Were your executions goods? yes

Grade: A
(1=D, 2=C, 3=B, 4=A)