MU Trade on Jun 17, 2021 09:48 from tjmiller2001: Tradervue User Stock Trades.

MU has 45m Demand at 79.98.

It opened above this level and held it at 9:34. It never came back down to retest this level. Instead, it bounced at VWAP at 9:44. I was looking for /ES strength to enter.

I missed the 9:44-9:46 bounce so instead, I looked for a fill on a pullback. At 9:48 I was filled on two contracts with a 3:1 RR. I felt good about being long because it was holding VWAP and showing relative strength to the market.

At 9:50 I got out of one contract bc I had a little more risk on than I was comfortable with. I was trading OTM contracts with just 1 DTE and those move faster than I'd prefer. Taking off some size helped me make less emotional decisions with just one contract on.

At 9:52 I moved my SL from 80.10 to 80.30 due to loss of strength and recent consolidation. That put my stop at the bottom of the consolidation period that lasted from 9:47-9:51. I don't see a problem with that decision to move my stop up.

At 9:55 I noticed relative weakness as SPY curled upwards but MU couldn't print a green candle. I was filled on my exit at 9:57.

My exit was not the main problem. I did exit a long trade before it broke under VWAP but the main problem was that I got out without rules for reentry. This name was above VWAP and I didn't even say, "If a high volume green candle prints I'll get back in long."

A consistent theme in my recent trading has been a lack of reentry rules.

Lesson Learned: Set a rule for reentry right after I get out. Walking away frustrated after losses does nothing for my development or P/L.

Note

I was aware of this long thesis because of a Demand Zone. However, since I didn't trade this setup based on the SD strategy, I am considering this a dip buy trade instead of a 45m Demand Calls Trade. My entry was 14 mins after demand was touched.