CCL Trade on Jun 22, 2020 12:56 from mrideout: Tradervue User Stock Trades.

Daily:
Price level at 20.04.

Since June 15, price has not been able to close above. Stock in downtrend.

50 EMA at 18.00, possibly resistance if stock opens below.

Intraday:

Premarket sold off on light volume to below prior day after hours close. Price below daily 50 ema.

Price broke above VWAP and I entered long. The next candle printed an inverted hammer on higher volume, indicating weakness. The next candle pushed higher on low volume, followed by a rejection. I exited on the break back below VWAP.

Areas of improvement

The entry I took made sense. Price initially tested vwap, pulled back, and created a higher low. On the next leg up, it pushed through and held above, where I made my entry. However, given the next candle that printed was a higher volume inverted hammer, then a low volume bullish engulfing (low demand), then an immediate rejection, I should have just exited. There was no need to wait until it dropped back below VWAP to exit given these signs.

Following the leg up through VWAP, volume overall dropped off, indicating no demand at this level.

After having taken 3 back to back losing trades on CCL, I should have walked away for the day to reflect on why I was trading poorly.

REMEMBER: When you make a bad trade, exit immediately!