HD Trade on Dec 4, 2020 09:28 from spyrosz: Tradervue User Stock Trades.

Alert hit yesterday as it broke below S1=major daily inflection point/support level=$269 which buyers had defended multiple times in the past month. Actually it closed below w/o being able to reclaim it. Break and hold below S1=$269 opened door to next major daily support level $263.

It was trading BELOW S1=$269 at premarket session which was ideal. Premarket plan was to get "short" at the opening pop towards S1, risking approx. 0.5% of price $270-270.5s, for a "Bearish Bias - Holding Resist. + DTSB" pattern.

HD followed premarket plan perfectly. I was able to get short tiny size right at $269 just before the bell, risking $270s.

Opened $1.5 lower which scared me a bit, thinking it would go w/o providing any opportunity for a calculated short entry and a chance to add. Thank god it put a low at $267 and pushed back to S1.

Added Tier 0 in-front of yesterday's close $268.2, risking same stop $270, having more offers closer to S1=$269. I wanted to see a clear/obvious rejection at S1 and a quick roll-over below VWAP, back to S2=LOD=$267 for a retest.

Rolled over all the way to S2=LOD.
-- Extreme relative weakness vs a very strong market (SPY was rallying at same time)
-- very weak tape, with offers stepping in at every bounce attempt to VWAP

Thesis playing out + Pattern playing out + Tape confirming = confidence to get big.

Slowly added momo tiers, once I realized that sellers were just below VWAP holding it down, tightening stop above VWAP, wanting to add more through the break of S2=LOD for a move to $265. Then S3=$263.

Nice 45min flatline consolidation in-front of S2=LOD=$267 so as 9EMAs at longer timeframes play catch-up, and then quick break thru LOD. I wasn't fast enough to enter short thru the break-down (nor stop-sell order), but I did put offers quickly right below S2=previous LOD=$267 in case of any retracement/retest before extention lower. Market gift as it did a quick retracement to S2=previous LOD and VWAP, got filled, and then collapsed.

Covered small into $266 whole number, 50% of size into 1st target $265, rest right into S3=ultimate target=$263.

Quick scalp long in-front of S3=$263, sold at close $264 was the cherry.

(+) Great idea/thesis, patience, executions just so on-point. Some great trading here.

(-) I should have reloaded some momo shares when it rejected VWAP+S2=previous LOD to the penny, held below, and started creeping lower. Tell-tell sign that it was going to collapse.