KR Trade on Jun 18, 2020 12:42 from CapitalMastery: Tradervue User Stock Trades.

Summary

Saw that KR had put in a really nice down trend off the open, despite having very decent earnings. Looks to be your typical profit taking, and so a ripe setup for a bounce. I ended up minimizing this trade, as I was going back and forth with myself as to whether or not this was an Opening Trend Bounce, and whether or not I should be in the trade. Ultimately, I left the trade early because it had technically made a significant bounce off the open, but failed. In hindsight, I should really consider these trades; especially with good earnings, and extended profit taking sell off like with this stock. Not to mention the big buyer than came into the tape mid day. I mean, this is exactly the type of trades I should be taking. I def need to factor this subset of an opening trend bounce play into my playbook. Afterall, the overall down trend did start from the open, so technically it was an opening trend bounce. And considering the initial bounce failed, and we had good earnings, it just made the setup that much more likely to succeed. Rather than get scared and exit early, this is the type of setup I should double down on, and load the boats. Especially when I'm able to set such a tight risk.

Did Right

• Acknowledged a nice downtrend on a stock with good earnings, and realized there was a trade setting up here.
• Got out of the trade when I felt it didn't fit my setup. Although this was ultimately the wrong decision, I'm proud of my discipline to do what I felt was right in the moment.

Did Wrong

• Overlooking this trade as a true Opening Trend Bounce play

Improvements

• Factor this subset of the Opening Trend Bounce play into my playbook. It's basically a variation where the first bounce fails, but leaves the overall/initial downtrend in tact.