TSLA Trade on Nov 20, 2020 10:27 from WuManChu: Tradervue User Stock Trades.

Idea, Entry, and Risk:

*Idea: Weak open and 500 break into go.
*Entry: Under 500 dip after breakout and continuation.
*Risk: 1:3

Catalyst and News:

Following from S&P500 Announcement.

Fundamentals:

TSLA ~~going to the moooon~~. In all seriousness, it's Tesla.

Technicals:

P/M action up and suggestions of continuation after VWAP support and the 500 break early morning, into the 945s-10am.

Summation:

Single share entry taken under the 500 level after the breakout into it and re-test of the previous day's close. Was unsure of the action so I started with the single, with the goal of scaling up to 5 if the trend and VWAP held. It was on a tear yesterday and with the announcement. Though a pullback was definitely possible, I wanted in on the potential for it to rip back up.

No such thing occurred, hindsight shows a clear trend downwards with the basing and eventual crack at 498s, as well as continual fails at the 500 level despite the breakout earlier. Still working on reading tape.

Held until the lows in case there was a turnaround, but once it got there that didn't seem to be the case at all. Out on a small loss.

Takeaways:

If you miss you miss. Kept with small size and a very small loss, and that's the important part. Hit plenty of stride with paper trades today so there's plenty to glean from and work with next week.