IBB Trade on Sep 28, 2015 10:27 from Holden: Tradervue User Stock Trades.

Miss-reading this set up and poor execution can seriously crush any momentum I am trying to build for the session so it is very dangerous to be forcing a play like this. I love this set up and it is a good one to consider for names that are potentially short term oversold names but there is so much value in making the action confirm for me before I commit because when I dont, I am not trading my plan, I am trading price action and what I want to happen, not what is actually happening (two very different things)
My thought process-

AAPL did not crack at the lows in the morning and began to bounce which I took as a potentially bullish signal for the market.
SPY had gapped down and extended lower (as FAS did as well) following the strong selling in the prior session so I was looking for the potential of an intraday bounce of short covering that could potentially develop into an intraday reversal move.
IBB experienced some really strong selling Friday afternoon and again this morning.
Did not put enough value in the fact that IBB had pulled back early and tried to bounce off the open instead of just pulling back hard off the open (big difference for me in the idea that the initial attempt higher could have brought in short covering but did not (so nervous shorts were potentially already out on that early move and would be less in a position where they are rushing to cover.
Name tested lower and popped back up testing above vwap where I was thinking “this could v bottom” but I did not have the set up for that at all and so was pushing in to a set up that was not developed correctly and had not confirmed.
Why did I pass/take this play and most importantly, why is this set up in my Anti-playbook trade
Took this trade. It was a good trade to be looking for with a short - term bounce but was not confirmed so I did not have the edge and the correct set up for this play YET.
Why did it happen and what do I need to do next time so that that doesn’t happen/Better approach
Focus on executing my play well all the way through. If I miss it initially, another opportunity could come and develop, I dont need to be pushing here trying to make something out of something that is not there yet.
Talk through it a little more. Remind myself that I am working to find and execute good plays for me which will help me build positive momentum, I am not in the business of forcing things or trying to catch tops or bottoms on reversals, it is just not my style and not me at my best.