MU Trade on Aug 26, 2021 14:19 from tjmiller2001: Tradervue User Stock Trades.

MU formed weekly demand at 70.58 about 8 months ago. It recently tested that level for the first time since then. After falling sharply from 8/9/21 to 8/12/21, price consolidated right at the level from 8/13 to 8/20. From 8/23 to 8/25 price bounced sharply from that zone, moving from 70 to an intraday high of 77.

After price pulled back the next day, I was comfortable getting long at 72.80 with a SL at 71.65 and a TP level at 76.25. This gave me a 3:1 RR. My SL was based on the 8/26 LOD, the day of my entry. My thinking was, if that LOD broke, my entry was premature and I would wait for an entry closer to demand if I saw volume, volatility, or momentum there. This is my first time trading off a weekly level so I'm getting introduced to wider levels and a longer time horizon/different expectations.

My Stop Loss order didn't trigger at my SL so I got out late. Taking a break from trading for awhile while I focus on my Multitaskr work.