WMT Trade on Aug 18, 2020 13:37 from Cklamb: Tradervue User Stock Trades.

WMT
Intraday Fundamentals
• Run up to ATH coming into todays earnings
•
Technicals
ADV 8.75 m RVOL 1.47 ATR 2.35 BETA .26 Short .91% Inst Own 30.8%
Daily Chart

Hourly Chart

Intra Chart

Trading Strategy
• This is setting up for a sell the news morning, a long at 129 would be a fantasy set up. But, it would need a point and a half for stop with 134 target
• 134 and 133 may act as support today
• A break of 131 should suggest shorting into 129 if the price starts to move lower.
• If 131 looks like it will hold wait for the SMA to take the long here and use market structure to take it back into 133
Reading the Tape
I cannot say that there was any confirmation for taking these trades on the tape.
Trade Management

Trade Notes
ToS was down in the morning. I was finally able to get the platform up around 1315 EST and waited to make sure the platform seemed stable and watch this move with strength for another VWAP test. I decided to work this as a VWAP resistance play after it broke I put the sell stop under the breaking candle on the one minute. This would give me 33 cents of initial risk stopping just over the spike at 135.76. It would let me take a better stop at .61 a couple minutes into the trade. I tried to hit out as this thing broke 135 after showing some great patience making sure I waited for the one to one on the initial risk and the 2 for one on the real risk at .61. There was a delay in the confirmation which resulted in me flipping this, more or less. I would be able to tap this long out pretty quickly for a very small win. The trade I am trying to get would be to hold the 35 cent risk for 2 to 1 which would have taken most of the afternoon. But, I could have cycled and fought for price a couple of times.
This gave a higher move than the last spike coming into this test. So, I set up to play this to break using the last local swing low on the one as the stop at .21 taking 20 cents of risk. I really should not play these to break. I think that I need to let the level hold for a bit before taking the level more as a support play. But, I set a limit in at the SMA. the entry rules on an SMA support play were observed though. Plus. it gave me the chance to close to BE and plenty of time to decide to take as much off as I could before it flushed my original stop.
This had just held 135.10 putting a higher low after a slightly higher high. I took this on SMA entry risking the breaking candle. I got nice cents on this one. I was working at holding this one for a 2 for 1 and maybe more if it would hold 135.40. However, it kept stalling at .35 after printing .36 once. I waited to see if it could print .37 and it would not and started losing the push and i decide to take the trade at one for one instead.