BBY Trade on Aug 26, 2020 09:40 from Cklamb: Tradervue User Stock Trades.

BBY
Intraday Fundamentals
• Second day play on good earning but, weak guidance
• Closed mid-range after holding 110 after the initial dip in the opening
Technicals
ADV 2.69m RVOL 4.06 ATR 3.11 BETA 1.68 Short 2.5% Inst Own 82.30%
Daily Chart

Hourly Chart

Intra Chart

Trading Strategy
• Long 110 depending on how it set ups as it tests the level
• Both the after noon low on the SMA on the daily are at about 111.50. this would be a deep stop long of al most 3 points . so take it small and look for 6 points over the next couple of days
• VWAP tests using a stop entry or waiting for SMA support
Reading the Tape

This gave me a stall in the action for a few seconds. I had been debating setting a limit at VWAP or the SMA. However, without being able to pick out a specific bid the tape slow and hover 112.75 leading me to market in on the short feeling like a VWAP entry was unlikely.
Trade Management
Trade Notes
SMA Resistance-I had planned on a deep stop long around 111.50. I was watching this at the open and put a limit in just above there as this started to come back into 113 after tapping yesterdays HoD. I mention this because as this bounced, I thought it looked like it was going to test the afternoon low that I had marked out and decide to work a short into that level. I marketed into the trade. This made the trade tough getting filled at the bottom end on the short. Due to the market order, I had been willing to take on 113.33 the last test of both VWAP and the short term SMA. A few seconds into the trade though felt 113.05 was better stop( with early structure) for a shorter term play into the level I was looking for and the possibility of getting better than 1 to 1. I held this strong through out waiting for it to move. But, after a bounce off 112 I started looking for a one to one exit which I got for an overall nice trade and setup.