TSLA Trade on May 15, 2020 09:13 from Donutbreath: Tradervue User Stock Trades.

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Donutbreath

 

We knew from yesterday's action we were looking for an hourly HL. We saw a lower open on SPY with QQQ holding PM lows into the opening frame.

Noted buying under the 200sma on the hourly with PM action. 2m EQ was forming with VWAP right above it. Reasoned if we saw a break and hold above this level the hourly HL may be set, and distance to 809 offered great r:r. Entered with the break of this level PM, 789. Noted supportive buying on the tape and short term/shallow consolidation. Market opened and we saw an initial pop above the intraday pivot. After a quick sell off bulls defended any real consolidation and we took half off into 793.

I noted high of pre-market resistance at 798.86/800 psyche resistance right behind it. I sold another chunk (1/4 of entire, 1/2 of remaining) into this resistance at the 797s). We then wanted to hold until the 5m uptrend was lost as we knew we were looking for a 5m LH under 809.00. Again noted significant resistance around that level (806.48, 200sma on the hourly, etc.). When price reached it and rejected i took my position off in the 802s. 5m was OB and we just rejected from a key resistance zone.

Review notes; one of my goals for this trade was to get bigger in the position and carry bigger as i have been trading TSLA a lot. Another goal was to carry the position longer and be patient into my targets as i have been too focused on p&l - a mental block of mine i am working through. Focused intensely on the hourly trend in this trade and it paid off - will continue to practice mindful management whilst in the trade.

Note: pre market entry not shown, entered full position at 789.00


Execution detail:

Date/time Symbol Side Price Position
2020-05-15 09:13:48 TSLA buy $789.000 long
2020-05-15 09:13:48 TSLA buy $788.990 long
2020-05-15 09:23:32 TSLA sell $793.000 long
2020-05-15 09:44:47 TSLA sell $797.038 long
2020-05-15 10:08:21 TSLA sell $797.616 0
2020-05-15 10:08:29 TSLA buy $797.965 long
2020-05-15 10:14:29 TSLA sell $802.590 0


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