TSLA Trade on May 11, 2020 09:30 from Donutbreath: Tradervue User Stock Trades.

Looking for a 4hr HL after strong bull break of 800 level last week, closing strong on friday. Consolidation in the morning with SPY, noted buying around the 788 level - testing low of day prior. SPY bouncing from the lows of PM and looking to set a 4HR HL as well. Bear thesis was an hourly bear flag as the EMAs were acting as an initial rejection zone on this time frame.

TSLA selling off into the bell, we took our first position with the spike down to 5m and 2m kissing OS levels. We had 1 more position ready to add if we saw additional selling pressure. 4hr at the 26ema and pivot for the week - so we were expecting at least a short term bounce to get risk free. After the initial bounce we noted VWAP rejecting price. We re-tested the low of day and i added my second position at 787.62 with a stop for my entire position under LOD. Price bounced and we flipped this position at 790.78 to be risk free on the entire position.

Price popped and we sold half of remaining position into intraday S1. Price consolidated after re-claiming/holding VWAP and set a 5m HL. Target was the intraday pivot and 200sma region for 2nd half, a likely area of resistance. Price hit 806 and rejected. We noted we had hit our day maker and hit the bid on our final position.

Review: My entire and add against LOD was great. Flipping this second position to be risk free on the initial position was also correct management, though i could have held a bit longer (hindsight). My only 'mistake' was on my final leg. I took off without 1. a stop being hit or 2. my target being hit (808). I was trading my p&l as i accidentally saw my p&l on the trade while setting an order - i saw my day maker was hit. As position was quite small at this point it didnt impact the trade significantly, though working to be as effective as possible - something to work on!