AMD Trade on Jun 24, 2020 10:15 from spyrosz: Tradervue User Stock Trades.

Main idea for several days now.
AMD had established two very well-defined levels last 7 days...
Resistance R1=$55.5---> go "long" in case of any break-out
Support S1=$53.85---> go "short" in case of break-down
and....avoid all price action in between S1-R1. Doesn't worth time, effort and risk of capital. Simple as that.

Opened strong in-front of S1=$53.85 and pushed towards $55.
Brutal reversal as market crashed, breaking below S1=$53.85...A+ setup!! Game on!!
-- too many stop-long below S1=$53.85
-- the strong open definitely trapped people above S1
-- market alignment

Extended at 5/15min timeframes, so needed time for consolidation below S1.

Started scaling in to the short at the retracement back to S1, risking above $54s. Added more size as the bear flag below S1@5/15min charts was becoming more obvious!!, expecting bear-flag resolution and momo sell-off to next support S2=$53. However, next big support level was S3=$52!! Back on my mind that was the ultimate price target...

(-) Got overly excited on this opportunity, and added a bit too much size when tape showed weakness and I thought it was about to resolve the bear-flag. Had to trim some off as LOD held and pushed a bit higher.

Thank god I re-entered the size, added final piece when it broke LOD=$53.37, held and put a pivot below...

Covered large piece in-front of S2=$53, last piece at $52.3.

Overall nice trade, but I could have played it a bit better:
(-) I covered too much at S2=$53. A+ setup, trade was working exactly as planned. Should have been more conservative with taking size off...
(-) Missed opportunity,easy short when it broke below S2=$53, retraced back, tested+rejected S2 to the penny and moved lower. Should have been aggressive, adding back shares to the short for the next leg lower to S3.