CPRT Trade on Sep 6, 2019 11:00 from beno: Tradervue User Stock Trades.

Big Picture
- Market very nervous about China trade war, election and current overall health of economy
- Holding above 282-294 range at 298

Markets Intraday
- PM: SPY consolidating
- Morning: SPY bottomed at 297.5
- Afternoon: Making pennant pattern between 298.75 and 297.50

Technical Analysis – Long Term
- Long term uptrend (since 2003)
- Two ATH Breaks yesterday and again today

Technical Analysis – Intraday
- Consolidating / having an inside day

Original Plan
1. Buy a hold above 81.37, showing strong support, price kept up
2. Buy a bounce from 80 level
3. Buy a bounce from 79 level
4. Buy a break and bounce from 81.4 (R1)

Execution Notes
After seeing CPRT come down from 82.25, I decided to put a buy-limit order at R1, hoping that the price would bounce from yesterdays high. I got filled after the pennant broke and got in at 81.40. I set my stop loss a quarter ATR below yesterdays high (R1). I got stopped out as the price reached the quarter ATR mark of 80.90.

I should have tried the trade again at yesterdays 80.60 level as this is where it bounced from today! Lessons learned for next one: try the trade at a lower level if the current level fails, perhaps with a tighter stop, not a quarter ATR.

Grade Questions

Did I follow my plan? (yes/no/with mods): yes
Which modifications?: None
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: B
(1=D, 2=C, 3=B, 4=A)