FB Trade on May 20, 2020 09:35 from spyrosz: Tradervue User Stock Trades.

BREAKING NEWS: Facebook's New 'Shop' Feature To Be 'Powered By Shopify

Very positive catalyst for FB business, including one of the hottest momo names (SHOP).
Premarket was gaping higher on significant volume %, just shy of the ATHs=$224.2.

Premarket plan as follows:
a) BULLISH but interested only if it breaks and holds above R1=ATHs=$224s
b) (P) Breaking News
c) Resist. Lvl Breakout of R1=ATHs=premarket high=$224.2
Not interested until it breaks and holds above R1, for the rally to fresh highs...That's the easiest and most predictable long setup.

Very strong open, with opening 1min candle breaking above R1=$224.2 on HUGE VOLUME (>1m shares). 5min consolidation above R1 and strong tape with bids defending the level was exactly what I wanted to see,

entered Tier 0, risking LOD, added Tier I after it started holding above $225, expecting the push above $226...

Took profits at $226-226.5s, held remaining position with stop below R1.
5min chart was setting up for a picture-perfect bull-flag and break of HOD=$226.4,
-- increasing volume during the push
-- low volume pullback back to VWAP+9EMA
-- 9EMA crossing VWAP from below

re-added half-Tier, risking below R1, expecting the break of HOD and a $2 pop higher.

Got the move and scaled out aggressively at $227.5-228. Started looking a bit exhausted...
Sold some more after the 2nd rejection of HOD in what I thought might be a Double Top.
However, it put a higher low and started forming an asc. triangle/Indy-long, respecting the 9EMA@5min chart to the penny!!

Didn't add back to the long, pattern resolved and FB rallied another $2 to $230.

All-out as $229.5.

(-)Could have been more aggressive on the 2nd add to the long for the $226.4 break, adding one Tier instead of just half..
(-) Too conservative in my exits, despite trade never going against me. Should have trailed better, esp. after I saw how well it respected the 9EMA@5min chart.
(-) Should have re-added half/one Tier to the long when I identified the asc. triangle/Indy long pattern on the 5min chart.