JE Trade on Feb 26, 2021 09:42 from Jrow3: Tradervue User Stock Trades.

Trade Idea:
- This ticker made a significant HOD break with sufficient momentum from ~$4.05 to $4.35 before making the first pullback. My entry was indicated from a healthy pullback setup on the 1min chart (micropullback/flag setup). The candle that constituted the relatively small pullback within the flag structure opened at $4.33, made a high at $4.34, and a low of $4.25. The fact that this pullback made a low at the quarter dollar level showed strength as it held a key psychological point. The next candle showed strength as it opened and quickly tested $4.34 where ask prices were readily printed in sequence and speed on the T+S as well as there being a rapid decrease in ask size on the L2 montage. I took a position as this occurred.
- The volume profile was good as the move from $4.05-$4.35 held the highest volume of the day. The pullback candle had relatively low volume.
- The ticker was up 25.2% upon my entry

Risk/Reward:
- Risk: Initial SL at $4.25 but as it broke above my entry and made highs, my SL moved to the entry candle's low at $4.31. I moved the SL up to my entry point once the ticker broke $4.40 (an area with initial resistance and subsequently served as support following the break).
- Reward: Initial goal of $4.5 but had to subjectively scale out due to indications that were not in favor of this price point.

Trade Size: I took a 1/3*BP entry as it was a cheaper stock but was in my A - trade category. Was looking to scale into 2/3 but never got the opportunity because it never gave a healthy second pullback following the HOD break.

Management: It made new highs above $4.35 and found initial resistance at $4.4. I didn't like how long it stalled there so I took 1/4 of my position off at the break ($4.41). From there $4.5 was tested and I knew that it had a chance to break if it was able to hold $4.4 and keep testing the ask wall at $4.5. $4.5 was broken on the subsequent candle but only made a high at $4.54. I put an order to sell on the ask during this break but did not get filled. (My order registered at $4.54). The ticker broke below $4.5 after $4.52 grew in size on the ask (via L2) which was inherently weak and I sold half of my remaining position at $4.48. I had to cut the rest of my position on a sharp sell-off following the breakdown of $4.5. I was filled at $4.33.

Final Exit Thoughts and What I Learned:
- This was an A setup for me and I took the appropriate size relative to the price and volatility of the stock.
What I did well: No hesitation when I bought. I saw/noticed the stairstep levels of support and resistance well on the L2 during the entire trade. Exited well upon the breakdown of $4.5 and when I cut my entire position to avoid a loss.
What I can improve: Although I only sold 1/4 of my initial position at $4.41, I could still have held for $4.5 and would have known that the worst-case scenario would have been a breakeven sell if the stock would have failed. I also could have canceled my limit sell on the break of $4.5 to get filled above this level on the dark pool.