SIG Trade on Sep 10, 2019 09:47 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 297

Markets Intraday
- PM: SPY consolidating in low 297s
- Morning: OD down from 297.25 to 296, bounced from 296
- Afternoon: Traded to a high of 297.75 and now heading back towards low of day
- End of day: Huge buyer stepped into the market and pushed price up to 298

Technical Analysis – Long Term
- LT downtrend on weekly chart
- Jewelry stores industry is at -33% over 1 year

Technical Analysis – Intraday
- reported better-than-expected Q2 EPS and sales results (51c vs analysts 24c).
- The company also issued FY20 EPS and sales guidance above analyst estimates
- Bounced from yesterdays high on Day 4

Original Plan
No original written plan but after seeing the strong OD to the upside I decided to wait for a pullback to play from yesterdays high. It couldn’t have worked out perfectly.

Execution Notes
I set an order for 15.89 with a stop at 15.68, risking 2R. My order got filled at 15.88. SIG traded to a low of 15.72, almost hitting my stop, but then caught some bids and proceeded to trade higher (a great example that levels are respected, but with a wide margin of leakage above or below, this is because they are more zones then single price levels). When the price got to ~16.15 it was showing some resistance, I sold half my position at 16.14 in case the stock was forming a LH. SIG traded past this inflection point and went up to the mornings high. From there it had a pullback to the zone I noticed before at 16.15 and made a HL there, I sold my other half at the high of day at 16.48.

Trade Review
I did a few things wrong on this trade:
1. I should have sold half at the HOD instead of the small inflection point at 16.15
2. I should have added when the priced pulled back to 16.15
3. I should have held my core position until there was a Reason2Sell

After reviewing video of the tape, I shouldn’t have sold my first half at 16.14 as the tape was showing strength (participants paying the ask with good size and bids increasing). So in reality the only good thing about this trade is my entry, I didn’t hold it long enough and I sold half way too early.

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?: No
Were your executions goods? Yes

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