WLL Trade on Sep 18, 2019 10:12 from beno: Tradervue User Stock Trades.

Big Picture
- SPY Hovering near ATM (302), having hard time breaking level
- Saudi Aramco attacks causing volatility in oil prices, production back by end of September
- Lingering fear of US/China trade war
- Fed announced next rate cut will be 0.25%

Markets Intraday
- PM: Small uptrend from 300.20 to 300.60
- Morning: OD down then strong uptrend
- Afternoon: SPY broke down to 298.30 when FED meeting started
- End of day: SPY had huge up move, moving $3 up back to 301.30

Technical Analysis – Long Term
- LT downtrend, currently respecting 50-day SMA

Technical Analysis – Intraday
- Day1: Gapped up $2, sold during morning, bought in the afternoon
- Day2: Gapped down, sold hard and closed weak
- Today: Strong OD upward, choppy morning action

News / Catalyst
- Aramco's facilities got hit with drones strikes (responsible for 5% of global oil output)
- Facilities will be back up and running by the end of September according to sources

Original Plan
Get short on a level from yesterday as oil is showing weakness after news that Aramco’s facility will be operational very soon. Playing for a gap fill to $7.5.

Execution Notes
I got short from yesterdays morning low level. Got filled at 9.38 and placed a stop above the wicks high at 9.48 risking 10-cents (1R). Trade was working initially but stock failed to make a LL and held higher, got stopped out.

Review
The stock held up well and the lows have been getting slightly higher and higher since yesterdays bottom. I could have tried the short again at 9.70, which was a level from yesterday (there was a nice double top to short against) but it didn’t feel appropriate because although it made a double top it was still in an uptrend. I’m giving myself a C on this trade we I should have had conviction to short at 9.70 which is the bigger picture trade.

Grade Questions

Did I follow my plan? (yes/no/with mods): yes
Which modifications?:
What justified the modifications?:
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)