QQQ Trade on May 19, 2021 11:06 from tjmiller2001: Tradervue User Stock Trades.

These are the kinds of trades that you can't afford to pass up. QQQ had been moving in a very easy-to-read upward channel from 9:30 AM to 11 AM. I got in with a 4:1 RR when I felt comfortable that I had confirmation the lower trendline would hold as support. Also, /NQ was right above VWAP, which I felt would also act as support.

It shot up very quickly and I had trouble handling my emotions and getting out around 11:10. I wasn't sure whether to hold or take profits. It had already blown past my TP level but there wasn't any Reason2Sell that became apparent to me.

I set an order to get out at 1.30 since price was consolidating. I got a great fill at the bottom and top, which is pretty lucky. However, I'm glad I manned up and put on risk when the opportunity was there.

My size could've been larger here given how well the ascending channel was being respected earlier that morning. However, I wasn't sure if this was a setup with edge. Part of me was worried that if everyone else saw it, maybe it wouldn't play out.

Lesson Learned: Ascending channels that have been tested 10 times in 2 hours are reliable and you should size up for that setup (and other channels that have been respected several times intraday.)