WKHS Trade on Oct 15, 2020 09:49 from WuManChu: Tradervue User Stock Trades.

Idea, Entry, and Risk:

*Idea: FF/Fade after R/G reject near 23s
*Entry: 22.70 (small), added on pops
*Risk: 1:3 (vs HOD, target under 20.80s)

Catalyst and News:

New order for trucks, but this comes after the repeated fails and Financing and USPS bid kick. Not looking great.

Fundamentals:

Still no sales and income in the toilet.

Technicals:

Dribbling off the 22 support on the daily, and despite the pops up, there's two instances green days followed by reds. Even good PRs don't seem to be saving this one much.

Summation:

Entered very small at weakness on the R/G failure. Watched it fall and confirm my theory, so I added/doubled at the pop to VWAP into the 22.60s. Still focusing on keeping size small, but easily could and should have sized up here. No new highs and had 22.50s marked as a key. Focusing on sizing in properly from this point.

Saw consolidation after the fails into the 21.80s. Considered taking some off there but waited a bit for some more action. Saw it come up again and fail at the 22.20s, but was unsure so took off half here. First VWAP test after the breakdown failed, so I kept the other half on and took off half of that when it finally cracked the 22s.

Kept the last quarter size expecting further breakdowns, possible breaks down to the SSR trigger. But I felt that I was staying for pennies over anything important, so after it bounced off the 21.50s, I covered the remainder.

Takeaways:

-Working on sizing in. Confidence boosted a bit here today. Getting in near the top of pops and making correct calls on fails is a skill to grind. Working on it, and making it consistent.

-EMAs help. Although some argue that they clutter up the chart, I like seeing them for resistance/support that other traders may be using as a guide. I don't feel it's as important as VWAP, but it's still useful to consider.

-Don't fight for pennies over dollars. Over a dollar move from your original entry with some slower action over the course of the day is where you should take the cash. Not nearly as exciting as something like SPI or FSLY, but fight to win, not be excited.