BYND Trade on Jun 17, 2020 11:14 from CharliePham: Tradervue User Stock Trades.

The Big Picture:
The Big Picture:
Spy opened strong yesterday but was quickly dropped from 315 to 308. It transitioned from open - Stage 3 (Consolidation) quickly to a Stage 4 (Downtrend) drop. After that drop it just traded in a range between 311 and 314. It did gap up at open from 305 to 314 but the daily movement of the market was pretty choppy.

Now at 14:45 the market is looking to head higher with a gain of 0.4% on the ES. We will see how it plays out but its looking like today will be pretty choppy and rangebound.

The market has been largely impacted and influenced by the FEDS work. It is still holding above a major significant support level at 300 which is the key level we are looking for. The overall short-term sentiment is still bullish - which is great for long-sided bias traders.

Pre market is flat with basically low float low priced runners moving which happens periodically when there is a lack of stocks with solid catalysts. If the market holds up, recent momentum names should move decent. If you don't feel comfortable trading lower priced stocks, just sit out and wait for better days. It is often a misconception that day traders have to trade every single day to make money. This is far from the truth, the best traders know when to trade and when to sit on their hands.

Personally i dont trade penny stocks (under 5$) and low-cap (under 300M) so there will be minimal with opportunities for me today to trade - Which is more fine. The best traders know when to press (offense) and when to protect (defense).

Watchlist: KR - FLGT - NET - SNE

Intraday Fundamentals:
- BYND made a bullish kicker pattern and broke major resistnace at 165.50 level. It was not on my watchlist because it did not make any significant gains premarket but at the open it did. Intraday it trended higher making higher highs and higher lows until pivot high at 165.78 which was the key level i was looking for a breakout. It gave me the setup i was waiting for and i took the opportunity. Got faked out but thats the game.

ATR: 11.42
R.VOL: 3.22 AM
Short float: 12.11%
Average volume: 8.6M

• Well done: Recognized that it was a good opportunity. Broke out of intraday resistance and was forming above major resistance on the daily. ATR was 11.410 and profit target was at 14.52.

• Improvement Notes/Mistakes: For my part now its fine to take these types of trade. It met the criterias of the setup. My only goal for out 2020 is to build statistics. I need to see what timeframes that work best, what time of day that works best etc. That way i can build large size data and trim the fat. This results in higher profitability.

• What i learned from this trade: The spread on this stock was around 50-60 cents. My stop-limit got triggered at 165.88 when the stop-price was at 165.92. Need to change brokers asap. Getting triggered on the Bid/ASK is a big difference from getting triggered at the Last traded price. I need to be more aware of the spread.
  Homework: (study spread more to understand it more in depth!)

Confirmations -
1: Eruption bar broke HOD
2: Forming at HOD
3: Stock gapped up and broke major resistance