NKLA Trade on Jul 8, 2020 09:34 from slowelim: Tradervue User Stock Trades.

MTFA(entry, one lower than entry, two(or three) higher than entry):
2m, 1m, 5m, 15m, and hourly
Market Cycle stage:
stage 4 downtrend
Macro & Micro Synchronization:
there isn't macro & micro synchronization, HOWEVER the macro trend is extremely oversold, so it is likely that institutions will cover a significant amount of shares in the micro time frame.
Macro trend:
The macro trend displayed an overextended 4 day selling streak. Now when these big institutional short sellers cover, it will be quick and sudden. The way to confirm the change in institutional sentiment is to be found on a lower time frame (1h time frame).
stage 4 downtrend
Micro Trend:
stage 2 uptrend
Essential Pattern/Super play:
1 min chart buy setup

Pattern Boosters(BT/TT, WRB/NRB, +/- VOLUME, EMA’s, Level (1/2) SUPPORT/RESISTANCE,
COC, RS/RW, MT, 50/100):
WRB into NRB selling (represents decrease in selling conviction), + igniting buying volume, @EMA, Micro level 2 support (Prior pivot high level acting as a support level 'The ceiling became the floor', +COC on the igniting bar, Relative Strength in premarket (Stock gapped up while the market was moving sideways), MT(Demand for stock & spx 500 @ market open), 100% retracement, forming a pseudo micro level 1 support. 8/9, 189% boosted (Highly probability trade).
Gap direction & Rating:
Level 3 Gap up
Pro/Novice:
Professional igniting gap (Gapping against the current macro trend in order to affect/change the long term macro trend.

Gap Entry:
We had a high quality 2m chart setup and a nice pre-market trend which enabled us to take on a more aggressive approach @market open.
Trade management approach:
2R AON (the most balanced and consistent management approach there is. Only 98% of traders can outperform the results of 2R AON).
Strengths from today's trading:
We woke up very early, without any grogginess due to the fact that we had head early to sleep last night. We went for a nice morning walk and used the trading plans morning guideline to our advantage. Systemizing our approach provides superior results. An approach that lacks a proper plan and system is an approach that is inconsistent. Only by being consistent, can we become confident.
Weaknesses from today's trading:
There are no weaknesses related to today's trading however there are weaknesses found within our work ethic. We should use our watch bezel more often to keep track of our work sessions and to stay on task. Due to the fact that we acknowledge that social media clouds our judgement, we should avoid over using discord.
How can you improve?
We can improve in the future by continuing to improve, update and add to our trading plan. This can only be done if we consistently use the trading plan on a daily basis, and imbed the plan into our subconscious mind. This way we will be able to benefit from all of the advantages that the trading plan provides, in a fair and short manner. To become consistent, one must act consistently. To be become confident, one must be consistent.