SHOP Trade on Apr 17, 2020 12:54 from Donutbreath: Tradervue User Stock Trades.

Strong daily move approaching ATH. Hourly consolidation approaching 8ema bounce zone. Zoomed into 5m and noted approaching 5m OS. 2m OS and initial bounce took place. I entered on the bounce with the 2m trend change. My initial stop was the 2m HL until we saw some more follow through, which was initially took out. Noted no significant follow through so re-entered position. Bulls say price follow through after an initial pause in the price action. Cautious as i noted SPY was continuing its hourly bounce without SHOP, potential bear correlation if SPY was to break down even for short term consolidation.

Sold initial 1/4 into strength on the first move, then another 1/4 on the second run. Noted choppy action with the first 15m HL and continued LL which took our position out. Price pause and ripped towards ATH. Without us.

Management critique - due to my position management with selling partials into strength i could have moved my stop under the low of the bounce and still be risk free. The hourly chart looked healthy and no bear flag was evident on any timeframe. Thus using the 15m HL from 2pm (EST) was the safe play but it allowed me to get shook out. Trade ended in just under a 1/2 day maker - week maker would have been captured if i wasnt shook out.