Shared by
WizardKing
PLAY: Breakout
KEY LEVEL: 700, 704-705 (HOD)
Did I follow my stop loss rules? Yes. uptrend broke on me, and I was forced to get out.
Entry(Notes): Entered first Tier, expecting a quick break following momentum. After all, it was testing this area for the third time. Rejected, but the higher low had me thinking that buyers where about to push this. Entered Tier 2 on the 4th retest, and was ready for the 705 break with full size.
Also, I tried entering on a dip buy. Stop was if TSLA held below 700, which I expected to be a key level.
I should have recognized this was a lower probability play, for TSLA already came from 682 up to here for the day. The break of 695 was the play on TSLA today, not the break of 705/
Exit(Notes): Rejected on me hard. I gave it a chance. Went completely against me, and was forced to get out.
Chart:
5 Min: 
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2021-04-12 10:22:25 | APR16 21 730 CALL | buy | $8.500 | long |
| 2021-04-12 10:24:45 | APR16 21 730 CALL | buy | $8.480 | long |
| 2021-04-12 10:28:23 | APR16 21 730 CALL | sell | $7.930 | long |
| 2021-04-12 10:29:07 | APR16 21 730 CALL | sell | $7.640 | 0 |
| 2021-04-12 10:30:41 | APR16 21 730 CALL | buy | $6.940 | long |
| 2021-04-12 10:31:43 | APR16 21 730 CALL | sell | $6.600 | 0 |
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