CREE Trade on Jul 6, 2020 22:32 from TigerTrader23: Tradervue User Stock Trades.

Setup: Pullback in an uptrend
Gain: 19.3% for 2.7R
S&P Perf during this period: 6.9%

Big Picture: S&P held a higher low on reduced spread and volume coming out of the mid-June reaction, assessed as a sign of strength and that the uptrend from the March low was still in tact with more upside progress to be made.

CREE Structure: In an established uptrend channel with good buying, no bearish changes of behavior. After hugging the overbought line of the channel, CREE reacted to test the demand line and did so on decreasing volume/spread.

Setup & Entry: This met my criteria for a pullback in an established uptrend entry. My entry order was not ideal, submitted with a market order prior to open - so I was filled on the gap up. However, this was the first stock trade in quite some time so I was looking to get into the market and not get caught up in pennies... but I was filled about $1.40 above my desired entry, which caused me to be immediately underwater the next day.

Intial stop was $56.25 with a PnF count of $70-$72. The sloppy entry turned this from a 5.4R trade to a 2.7R trade

Trade Review - Improves:
-This was my first trade in quite some time, so a sloppy entry made with a market order, pre-market, using my phone. Should have used a limit order, but I was looking to enter so I got caught on the gap up.
-I didn't maintain good structure awareness of where CREE was at in the uptrend channel prior to my departure for PH. I moved my stops up tight because I didn't want to give back my target, but CREE has not exhibited any bearish changes of behavior, so my stop should have remained IVO previous resistance at $70.22. However, the decreasing ATR and shortening of the upward move I felt that upward growth was limited, and at the end of the day my target was reached.