SPY Trade on May 12, 2021 09:35 from spyrosz: Tradervue User Stock Trades.

I couldn't sleep yesterday thinking and planning this trade. Shear excitement.

Day I = bearish engulfing candle, brought price from ATHs=$423 back to $418, with sellers showing some power.
Day II = gap-down in-front of major daily support level/inflection point=$410-410.5. $410 support held, but seller stepped down to $415, held it down the whole session and protected the daily gap, showing who was truly in-control.

Day III: weak premarket action, SPY hovering close to S1=major daily support level/infection point=$410-410.5 after strong CPI reading.

Premarket plan was to get "short" the opening pop to R1=premarket resistance pivot=$412.5 or (if lucky) to R2=yesterday's HOD=$414.5-415, expecting a rejection there, roll-over, break and hold below S1=$410-410.5 for the move to S2=$407, possible S3=50SMA@daily=$404.

Played nicely. Tried to pop at the open, but sellers rejected price at R1=premarket resistance pivot=$412.5. So weak!!

Got short filler, risking stop $413s, added Tier 0 after 2nd consecutinve rejection, tightening stop to HOD=$412.6, expecting the break of S1.

Took a partial stop as it tried to remount VWAP and pop, but once they hammered it back down, reloaded size, added one momo tier, risking HOD.

Covered small at the flush to S1=$410.5. Broke S1 on nice increasing volume, reloaded size at the backtest of the level, risking VWAP, covered at the sell-off to $409.

$410-410.5 should act as major resistance level. Indeed, sellers stepped down, and price was rejected right into $410. Reloaded size, added another half-tier, tightening stop above VWAP $410.75, expecting momo to kick in and smash it to S2=$407.

Covered towards target. Held small size that I covered into afternoon sell-off to $405 area.

Left with a trailer , stop $409, target daily gap-fill=$400.

(+) Thesis + premarket plan/preparation + executions + tape confirming = for a nice trade