HEPA Trade on Nov 21, 2019 09:30 from Chigozie: Tradervue User Stock Trades.

Why did I want to take the trade?

Low float gapper, opening up above VWAP but with 180 SMA close by.

What did I see?

HEPA opened and started to sell off towards VWAP. It went past VWAP and dipped below towards 180 SMA.

What was the downside potential?

Very weak bounce that will result in a flush past SMA.

What was the upside potential?

Price bounces and pops up above VWAP.

How did I manage the trade?

Got in at $4.00, and got out at $4.04 because there was hardly any resolution after the bounce. I play these for the short squeezes, so if they don't happen I just jump out.

Price retested SMA again so I jumped back in, selling on the pop towards VWAP since if it was strong it should have squeezed and held by now.

What was I feeling at the time?

Happy to be playing one of my favorite setups. Since it's a setup I am confident in, I felt under control.

What did I do wrong?

Scaled out too often. I do like to sell half at the VWAP, anticipating a break and hold above it for continuation. But even then, I scaled out like a couple times at the VWAP and above. Should have gotten all out on the second sell, since there was a wide-bodied red candle that started the selloff.

What did I do right?

Entered on two SMA bounces and sold the pops. This setup is so high probability, I really need to be prepared for them and take them.

How can I improve in the future?

Really understand the Level II on this setup. It really will help to confirm where there is support. After finding support that is when the bounce happens. I should either have an order 1 cent above the bid or buy the ask as soon as I see the bid get sold into but not fully break, as this is when price 'stalls' at my entry and I should hit the buy button.