ETFC Trade on Oct 3, 2019 14:10 from beno: Tradervue User Stock Trades.

Big Picture
- SPY back in August 282-294 range
- Saudi Aramco attacks causing volatility in oil prices, production back by end of September
- China trade talks productive, China purchased agriculture products from US
- Fed easing and possibly introducing new QE program (called Open market operations)
- Formal inquiry launched for Trump impeachment (Cover-up, secret server, abuse of power)
- US released tentative plan to limit investment in China

Markets Intraday
- PM: Uptrend
- Morning: Uptrend until release of NMI (52.6 compared to expected 55.4), SPY tanked $3
- Morning 2: SPY retraced all gains lost from NMI number, from 285 back to 289
- Afternoon: SPY price peaked at 290 then down-trended back to 289
- End of Day: End of day buying pushing SPY back above 290

Technical Analysis – Long Term
- Downtrend since mid 2018

Technical Analysis – Intraday
- Day1: Gap down $9 on $0 commission news, closed near HOD
- Day2: Gap down $1, trended lower all day, closed below day1’s low
- Today: Morning selling then steady uptrends with HH’s HL’s

Catalysts / News
- E-Trade joins Schwab, Ameritrade, IBKR in $0 commissions

Original Plan
Long on retest of Day1 catalyst low after uptrend established.

Execution Notes
After watching a beautiful uptrend emerge since the morning sell-off I wanted to jump on board. The stock had recently pushed past the first days low and was retesting the level from above (level was ~35.30). I got long 2 lots at 35.32 with a 1R stop at 35.22. The stock has been forming an ascending wedge against the 35.50 resistance so I lightened up 1 lot at 35.50 covering my risk on the trade. I sold my last lot above the original ascending triangle at 35.62 as many sellers were stepping in at 35.63 on the tape

Review
I like how I noticed the clean uptrend initiated from the morning lows. I also like how I noticed the price breaking above resistance from day 1’s morning low; this gave me conviction to enter and set a tight stop with only 1R of risk. I didn’t want to hold overnight so my Reason2Sell this time was the end of the trading day. Definitely giving myself an A for this trade; I was patient and covered my risk early making it a relaxing trade to take.

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