WYNN Trade on Apr 23, 2020 12:55 from tradelikelarry: Tradervue User Stock Trades.

Trade Planning:

• 1h Chart: Downtrend.
• TTM Squeeze: none
• Earnings Date: 5/5-

Reason For Entry:

• Playing 1h chart. WYNN gapped up on news and I am betting that price will drop by next week. It was positive news for Casinos but realistically, with the COVID-19, it doesn't look like things are getting better any time soon. Betting that the gap below will fill. Risking 1.5% of portfolio 4/24 - Added another contract to position to (average up). This hurt me in the end*.

Reason For Exit:

• WYNN consolidated at its gap higher and broke out of resistance for new highs. Closed position for a loss (2% of portfolio)

Recap:

• Ultimately, this trade is NOT one of my bread and butter plays. I don't have firm rules for a (gap and fill below) play. This was a huge play (compared to my other trades that I play). I had no business playing this one big. This was following a loss on a 13/30 play. I was playing on emotion and should know better. LEARN FROM THIS. Identify your edges and play them correctly. Moving on..