TTD Trade on Dec 4, 2019 10:50 from MarcoG: Tradervue User Stock Trades.

Consolidation Squeeze play at pm high on Oversold stock!

Requirements:

RVOL: Possibly >1.5
pmVOL: Possibly >50 K
avg Vol: > 1M
Vol @ Day : > 1 M
Gap: If possible but not strictly needed
Long Term Chart : Possible Pocket, trend already defined and strength.
Float: > 20 M
Short Float: Possibly >40%
Institutional Ownership : Possibly > 100%
History of Gap Follower: Neutral
History of former runner: Possibly YES
Major ETF movement and strength: Possibly Trending with strength

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Overall Picture

SPY was holding nicely high of the day consolidation area. A continuation from yesterday's session is definitely occurring

Today's Watchlist

Today I had on the wachtlist: ZS, WDAY, EXPE, GIII as names supported by a catalyst. SHOP as BETA name. APA as continuation. CLVS exclusively for the fade off the 200SMA. ROKU cause it is always moving, I might call it the stock of the moment, a moment that is lasting since long now. TTD was on watch due to the fact that in my opinion felt too much and too fast, many indicators showing that the stock might recover the losses. There is a nice pocket that could be filled.

SHOP: I have selected SHOP in my watch list due to the fact I still couldn't understand why it was trading such low price. The fact of having broken the 100SMA with no llok back was a confirmation of a certain strength a pocket from 353 till 361/369/371.50/380 could be easily filled. I was right, the open of the second minute candle is just 353.50 a rejection of 353. Held on yesterday's high/close boom broke for hod and lik a beauty till 365! Jesus what a run. I am asking my self if would be worth to just trade a smaller size at the break of the level and just stop it below previous low. It might worth the try in combination with the checks covering my idea. Such as SPY supporting yesterday's move, pocket to be filled on a high beta stock that just lost some interest lately, undervalued from my point of view. Smaller size is the key I guess.

APA: APA was on watch in case it would have kept bleeding with lower lows. It didn't occur I left it aside.

CLVS: CLVS was on watch only for a rejection off the 200 SMA. It occurred, I am so happy about that :D :D It occurred at minute 1, moment in which I was with my eyes on my main stocks. Pity for this miss but is so nice to see that I had a good view on it. In my pm prep I just wrote that so I have to improve more and more on over viewing n=more stocks. I am already happy the way I am handling those lately but obviously this missed trade remarks that I have to keep improving on following up to 8/10 names. I am using an excel sheet I have made for me to have already everything set down and save crucial seconds. Is helping me a lot. Within 7 seconds I am ready to set a new entry and exit order on a new stock with different size.

Play

TTD

Company Description

Sector: Technology
Industry: Software Application

The Trade Desk, Inc., a technology company, provides a self-service omnichannel software platform that enables clients to purchase and manage data-driven digital advertising campaigns in the United States and internationally. The company's platform allows clients to manage integrated advertising campaigns in various advertising channels and formats, including display, video, audio, native and social, and on a multitude of devices, such as computers, mobile devices, and connected TV (CTV). It serves advertising agencies and other service providers for advertisers. The Trade Desk, Inc. was founded in 2009 and is headquartered in Ventura, California.

Trade Scenario

**TTD has been oversold 2 days ago but in yesterday's trading session got back a good part of it. STill the pocket fill is large and with the overall support by a relatively strong SPY could get to fill it

Trade Variables

Symbol: TTD
avg Vol: 1.56 M
Vol @ Day: 1.4 M
Float: 45 M
Short Float: 16.6%
Institutional Ownership: 77.41%
avg ATR: 11.5
History of former runner: Yes
Long Term Chart: The stock got to gain back what lost since August this year but has been heavily sold 2 days ago. Price got to gain back a 9%. A possible pocket fill till 246.
Major ETF movement and strength: XLK was trading getting to ne hod at the moment I have traded the stock.
Catalyst: None. Technical trade

Technical Levels

Support:

S1 238.78
S2 237
S3 232.22

S4 226.28(100SMA)

Resistance:

R1 241
R2 246.12
R3 262.5

Inflection: 241

Trade Plan

TTD is on watch in case trading above the 241 level of support for a gap fill trade.

Set-up: Up-Trend Continuation entering at pull back to inflection.
Side: Long
Size: 17 (filled only 16 lol)/ 16 (I have adapted on the first 16)
Entry: 241.90 (gave it some range also cause spread was wide) / 243.25
Takes: 245.60 (first possible level of resistance is 246 thus gave it some range)
Exit: 242.3 after my add but got to hold for it to confirm and found a fill only @ 241.79

Trade Overview:

Analysis:

1) I have noticed price sitting above a possible entry level with a nice volume pop at 10:45 supporting the up trend. I have executed my order and found a fill almost immediately.
2) Held and held it resolved the gain built in 1 hour in just 3 minutes covering the entire range made above high of the day. Actually is a typical scenario to then resolve in bouncing back.
3) I have exited cause broke my entry at high of the day I didn't think it would have held also pm high. It did.

Tape reading:

I don't think there was enough liquidity to spot anything relevant on the tape. Surely accumulation occurs even if with orders that are really small. It also occurred spoofing at the break of 243. A bigger sized isolated order on the ask that by then was trading 243.40 due to the spread. 243.77 another big isolated order but bids didn't even got to trade the 244, .80sh has been the high on the bid while the ask was offering the 244.05 with a 0.40$ spread. The volume profile though has been great. It really confirmed the action and gave me strength even at the open of the trade.

Orders:

I have added at first level of broken resistance that became support. I have exited a bit late and with big slippage as imagined cause price consolidated @ the 242.27 just 5 cents below my original stop. I have for this reason considered worth the wait.

Intuit:

I have traded this stock today cause it is too long I am reporting of missing opportunities and ideas. Too long reporting of only trading one setup. Thus arrived the moment to apply what I prepare in pm and report of a traded actually traded rather then missed. I knew it was spready an with not so many volumes for the day, but the stock has an avg traded vol on the last 90 days of 1.5 M per day and today was going on the same direction.

Internalization:

I have told myself to enter what I study for, prepare, see and feel and today thanks god I have done it! YES!!!!! I have told myself to do it in pm and during the entire session! Need to unlock myself, need to jump here!!

Comments:

Was too long I didn't trade 2 names in a day, was too long repeating the same i relation to my setups and the lack of executions on ideas and other playbook trades. I have finally done it. I have finally given myself the opportunity to improve and report in relation to a setup that for the moment is still on work but can produce great results. I think TTD has to be taken as a winner by my side. The stock traded by the close hod @ 246.77. I have matched with the resistance/target level and I have matched in spotting this particular stock today.

What I did not like about the trade:
I didn't like that I didn't perhaps internalized the trade properly. I mean I had perhaps to size it a little more to lock once I have had 2 points in my favor. Broken below my entry should be already a stopping area. For the meaning of if it goes it's ok otherwise I am out and not chasing a possible retest of hod. Though I really think that if I have held down there I could have stay just a little more perhaps supported by my low size, that in the end is what affects our tradable range.

What I have liked:
I have liked that I am proud to report of TTD cause it would have been another chapter in my daily main setup trade as a missed opportunity. Those such this one are the reports I love to write, spending hours on improving, instead of spending hours on commenting how frustrating is to miss a trade!

Additional Comments if any: I didn't have fixed profit takers, my aim was actually what price traced only after the drop at yesterday's high getting to first level of resistance @ 247sh