MSFT Trade on Jul 16, 2020 09:33 from spyrosz: Tradervue User Stock Trades.

This is what happens when momo is NOT there and instead of follow-thru you get choppy action. I must be careful, consious and not hurt myself on those days.

Trade idea was there. I was watching MSFT yesterday closely, as name was looking weak, flirting with the 20SMA@daily=$204, which was acting as support from March lows. I thought that if MSFT manages to break and hold below the 20SMA, that would be significant for market sentiment, as a LEADER stock breaks serious inflection point.

Opened weak and moved towards the support level.

Got in filler size, risking premarket pivot at $206, just to keep it on close watch, wanting to add serious size below the 20SMA@daily=$204. Target was $202 at a minimum.
Added a bit more when it came close to stop, and as it started respecting VWAP as clear resistance, risking same stop.

MSFT flushed below the support and trade was looking GREAT! I was in from good prices and ready to add more for the momo move lower to $202. Nice consolidation below support with 9EMAs@5/15min chart catching up with price action...

Scaled in to the short, got confident and added more, when 1st algo short-stop run got brutally rejected, and price returned below the support. Stop for the momo adds the top of algo run above $204.

Well, it tried to move lower, but reversed hard, and I stopped out per plan (momo adds above $204.4 and core above VWAP.

That's a great trade! 100% I would take that setup again and again and again. Great entries, great adds pressing to the short realizing the great r/r, and PERFECT risk management. Papercut loss based on the size I carried.

However, the stupid name touched $205 and did a hard reversal lower, that f*cked me mentally. Instead of keep going, it came back down in a manner that I felt I had to get back in.

Got back in with half-size as before, risking $205 to the penny, expecting the move lower.

Covered some when it flushed through LOD, and had bids in-front of $202, which never got hit. At that point I was back green on the name.
Came back and started holding below previous LOD, so I decided to add back some shares, risking tight stop at $204.5, since not only I was right in the first place but now QQQs were looking ready to lose the 200EMA@60min and move lower.

Well, what a bear trap on MSFT and QQQs as well.
Got stopped out for a total of 1.5xTier I loss....

Worst thing is that I feel I should have made money on this trade.

Tried it one more time on the afternoon but I did not have the confidence to hold...