TSLA Trade on May 19, 2021 09:35 from WizardKing: Tradervue User Stock Trades.

The key concept I failed to comprehend this morning was that in the areas where I entered my shorts should have been the area in which I covered. At least, today was the opportunity from the people short from 560, 600, and above to cover into weakness.
I was an amateur today. Too biased to see myself walking right into a short trap.
Although I got to say, I've been trading TSLA for this whole week, and ever since it held below 600, I was waiting, waiting, and waiting for it to dump to 500's. I thought the stars were all aligned today, as BTC was dumping, the SPY's and QQQ's were pulling back, and TSLA broke past 560, and seemed to be holding below it. As in, I guess I understand why I was so short biased, and why I went in so heavy on the puts today.

PLAY: Breakdown
KEY LEVEL: 545, 560
Did I follow my stop loss rules? Nope, and I paid hard for it. Damn hard.
Entry(Notes): There was actually never a clear confirmation for me to go all in on this play today. Live price action showed some weakness, and I was anticipating a retest of 545 way in advance. Nothing wrong with entering with small size to test the waters, but there's definitely something wrong with thinking that this would be a FOR SURE thing. On a bigger time frame sort of analysis, I guess I could see how TSLA is oversold on the downside...
But I wasn't thinking of that during the trade. All I was thinking of was catching this thing short.

Exit(Notes): I even said to myself as I was holding this position today... "today is not a day to be scalping quick profits... I'm going to hold this for a big move." Well, look how that turned out. I didn't have a profit cushion on the day to risk holding for so long. But I widened up my stop, from EMA, to VWAP, to the previous High of Day... Freaking ouch. What happened to "no raising your stop level"? That's a major rule on risk management.

Chart:
5 Min:
15 Min: (Larger TF Analysis)