WORK Trade on Dec 6, 2019 10:07 from Marius: Tradervue User Stock Trades.

SPY back in middle range from ATH's and bounce from recent lows. Positive reaction to jobs report.

Work had reported earnings 2 days earlier and this was a second day play on technicals. There was notable RVOL the prior day.

RVOL - 3.76
AVOL - 9.75M
ATR - 1.22
Short Float - 18.93%
Shs Float - 241.14M
Inst Own - 94%
Market Cap - 12.29B

Trade Review + Management

The 23.00 level was a notable level on this trade. It had been tested multiple times after the opening drive. I was watching the level 2 and the buyers could not hold 23.00 and step the bid up. I entered once I saw this and entered a sizable trade here. I started to see the level unable to hold and had a plan to get out shortly after. The price dropped towards vwap and my risk level and got flat. Slightly higher risk absorbed here but the potential reward out weighed. (1 to 3+ on a modified intraday/swing)

I noticed other experienced traders putting the trade on. I saw one flatten the long position before we held 23 and attempted to move higher. Another exited at the same time I had.

Will have to watch this trade develop. I saw the my edge and parameters in the set-up but unfortunately did not get the follow through. I don't think there was anything else I could of done here on this trade but will update if anything comes to mind.

Update : Going to get back in the trade with similar parameters if tested in the 2nd half session of the day.

Weekly View (noting the volume)