AMD Trade on Jun 14, 2021 09:42 from tjmiller2001: Tradervue User Stock Trades.

First Trade

AMD opened weak, heading towards 4 Hour demand at 80.26. I wanted to watch the reaction to that level. Ideally, I'd get long after seeing a quick high-volume bounce on a large-bodied green candle.

At 9:40 I wrote that I could, "Feel sellers losing strength, waiting for buyers to gain strength."

At 9:42 I got long on a somewhat high volume green candle. Volume was higher than the previous 3 minutes but it was not abnormally high. I had a 3:1 RR.

At 9:45 I was stopped out at the low of the candle before a 50 cent rally. I'm not confident that my exit was too early however because a demand bounce setup is weaker if it consolidates at demand. I got out at the low of the consolidation period at demand.

I chose not to reenter because it ended up consolidating at demand longer before a steady move up from 10:30 to 1:30

Lesson Learned: Look for higher volume at demand to back up your decision to get long above there. Low volume on a demand bounce could mean the opportunity is weaker.

Second Trade

Since AMD opened weak and couldn't hold above VWAP on an attempted break from 9:47-9:50, I felt good about shorting AMD right under VWAP with the thesis that it would reject VWAP just like it did at 9:50 and 10:01.

I don't have an edge with VWAP fades so I was sure to keep my stop tight and take profits before price hit demand, which I perceived could act as support.

At 10:14 I was filled with a 3:1 RR before I was stopped out at 10:18. I think I could've fought for price better to minimize my risk on a setup with so little edge. Also, the fact that this name made a higher low on the 1m chart at 10:03 should've made me aware of the strength in AMD. I didn't even notice that and I should look for higher lows or lower lows to indicate current strength.

Lesson Learned: Fight for price when no edge is present. Be so picky with your entry that you are fine missing the play if it runs without you.