AMZN Trade on Sep 29, 2015 09:46 from Holden: Tradervue User Stock Trades.

DONT CHEAT MY ENTRIES. It makes it far more difficult to think clearly when I am not putting myself in the right position, having let the play confirm first.

Morning - Oversold Bounce-Failed Attempt lower, rejected below S, hold above and change character
With the extended move to the downside yesterday I was looking for the potential of a nice reversal and a trade higher today (short covering rally/relief rally). My primary focus was seeing the action develop in SPY and in the IBB as both were showing weakness but also was looking to see which names could potentially provide solid edge based on their own higher time frame set ups.
What are the variables - (Checks) in my favor for this set up
WYNN and the gambling sector has been down hard coming into this session.
AMZN has pulled back hard to a key level 500 but has also shown strong earnings.
NFLX is a MOMO name and can often be a leader (also still consolidating
FB- has been consistently one of the strongest stocks in the market.
With the strong pullback from the open today and big picture move just below prior low but failure to hold below that level, I was able to look for a possible bounce play wanting the action to clear and hold above a key R level intraday before getting continuation and looking for a strong drive higher.
My thought process-

I had prepared a couple names so when they pulled back to support and started showing strength, I was able to keep my focus in the right place, let the action confirm and look for a long bounce play.
What happened and how I responded
Tried to play the bouce with a couple of names and a few of them gave some nice edge but not all of them. Important to know what I am looking for in the play before the action develops so when it does, I can keep my focus in the right place.
Managing risk may seem more difficult with multiple positions but when I am trading the same play in different names that all fit the same market set up it requires more of a focus on the the theme, identifying key levels I want the action to clear, my target and observing the action when it hits my target area.
After the initial drive monitor for continuation waiting to see how and if the action gives me a good opportunity for a continuation play by looking for a hold higher above R level for a sustained period of time before looking for more of a break higher.