NIO Trade on Jul 10, 2020 09:33 from slowelim: Tradervue User Stock Trades.

MTFA(entry, one lower than entry, two(or three) higher than entry):
2m, 1m, 5m, 15m, hourly, daily, and weekly chart
Market Cycle stage:
stage 4 downtrend (Supply/Fear) ~ Micro time frame
Stage 3 consolidation (Distribution/Anxiety) - Macro time frame
Macro & Micro Synchronization:
We didn't have exact macro & micro synchronization.
Macro trend:
Stage 3 (Distribution/Anxiety)
Micro Trend:
Stage 4 Downtrend (Supply/Fear)
Essential Pattern/Super play:
5m Breakdown Pattern

Pattern Boosters(BT/TT, WRB/NRB, +/- VOLUME, EMA’s, Level (1/2) SUPPORT/RESISTANCE,
COC, RS/RW, MT, 50/100):
Narrow bodied buying bar into wide range selling bar, + Igniting Selling volume, 21 day ema contact from above, micro time frame level 1 resistance, -1 COC, Relative strength (Into over extension, which resulted in selling), MT Selling, 100% Retracement against the downside. 8/9 Boosted, 189% Boosted, a high probability trade (likely to succeed),
Gap direction & Rating:
Level 3 Gap up
Pro/Novice:
Novice Ending Gap Up. Gapping with the current over extended uptrend in order to end the over extended uptrend.

Gap Entry:
Generally with a level 3 gap you want to have at least 15 minutes worth of confirmation before entering however the premarket price action was sufficient confirmation to enter earlier on, the technicals confirmed stage 3 distribution/anxiety on the micro timeframe into stage 4 @market open. We saw ample confirmation of resistance in the pre market price action and saw that it retested the highs but failed to move higher several times.
Trade management approach:
2R AON, The most consistent and balanced trade management approach there is. 98% of traders can't beat 2R AON. We can't beat the statistical probabilities of 2R AON so we shall stick to it forever. Consistency is the real holy grail in trading. Consistency is what builds confidence.
Strengths from today's trading:
I think we did a great job reading the tapes on the stocks in the pre-market.
You can trade level 3 gaps fairly early on if the premarket/intra-day technicals allow, but the general consensus is that the better the gap, the more aggressive you can trade.
The worse the gap, the more conservative/passive you have to trade. However, there are always exceptions to this rule, so it is best to read through the tape in fine detail to time your trades.
Weaknesses from today's trading:
No particular weaknesses found from monday's trading. Great job to us.
How can you improve?
I believe I can further improve my trading skills by devoting more of my time towards studying market theory and trading concepts. To be specific with my statement, what that means is I should stick to my GWWS (General Weekly Work Schedule) every day and be more consistent with it. One of the ways in which I can be more active and consistent with my GWWS is by frequently adjusting my watch bezel and keeping track of my time. My time is very important right now. How effectively I use my right now will determine how successful I am in the future.