PEP Trade on Oct 4, 2019 12:14 from Cklamb: Tradervue User Stock Trades.

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Cklamb

 

PEP
Intraday Fundamentals
• Good earnings report
• Hit a new all time high at the opening and again after the bounce of the ISM dip
• Stepped down the rest of the day closing below the opening

Technicals
ADV 4.38 RVOL 2.07 ATR 2.16 BETA .57 Short .7% Inst Own 74.10%
Daily

Hourly

Intraday

Trading Strategy
• Look for long setups if this flushes below 137 look for a shorter term bounce off 136.50
• If 136.50 break start looking for a bounce off 135.50, or a strong hold around the 136 level
• Short any spike towards 138.50 if it moves to that out of the gate
• Long 136.50 out of the gate if it wicks to that on the open
• VWAP Plays if they present themselves
Reading the Tape
I worked this tape throughout the day. I picked spots when the prints were running in the direction of the trade. This was helpful in taking the partials for risk reduction. The tape looked heavy on HoD short but I still did not see any outliers on the offer.
Trade Management

Trade Review
• Overall
o I did well being able to work this from both sides.
o My overall bias after the AM change stayed long even during the countertrend trades off the new HoD and the consolidation play at .50
o Stats will show 4 out of 5, real wins are 2 out of 5..
o All entries were based on prepped levels
o Progress made in using the tape to put trades on
• Opening Trade
o Opening resistance hold play on bias and AM plan
 Aggressive attempt took as soon as I had a marker for stop
 Consider more patience, the tape was still strong as this did the dance around .50
 This never really rejected .50 before trying to use it as a level.
• Second Trade
o Resistance hold play
 Good set up with price action starting in favor of the trade
 Solid take on partial with a good fill
 Small gain off trade management before stopped
 Little deeper stop may have lead to me to take this off at VWAP, but, I really was just wrong and managed the risk well here.
• Third Trade
o Resistance break play
 Great set up and managed well
 I needed to trigger this again as it re-broke( this is way you are playing such tight risk)
 I was too small for this only having three cents
• Fourth Trade
o Resistance Hold Play
 I took a short of good risk at the HoD
 I needed to manage this like all other entries, I should be taking half off and not going flat after the quick move in my favor
 A SMA exit on the scalp would have netted only a little more, but watching for the change of character around .40 may earned as much ads 7 to 1 on the remainder
 Took me to profit for the day… not a good reason to flatten!!
• Fifth Trade
o Consolidation Break
 Watched this set up for a while read tape throughout
 I waited through the initial break down, but was ready to take momentum if it started to extend
 Took on the next pulse above .50 as the entry candle turned red risked 4 cents
 NOWHERE near proper risk!
 Good quick take on the partial at 3 to 1 and 13 to 1 on the remainder getting stopped out on the SMA exit.

Trade Grade

I was prepared for this working the all the price levels that I had seen the day before
I worked this hard all morning and need to keep after it in the afternoon
I had a plan to get risk on and risk off on every trade and followed my developing entry setup
There were a couple of trades that may have benefited from some more patience one entry and one exit
I was fairly discipline in not moving stops around after taking partials

image


Execution detail:

Date/time Symbol Side Price Position
2019-10-04 12:14:25 PEP sell $139.540 short
2019-10-04 12:17:40 PEP buy $139.474 short
2019-10-04 12:30:29 PEP buy $139.270 0


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