WYNN Trade on Oct 2, 2015 09:34 from Holden: Tradervue User Stock Trades.

With the name in play on a negative catalyst, when the action does not cleanly move lower that may be a telling me a decent amount and I can begin to look for potential signs of a reversal developing.
Particularly I want to be really paying attention if and when the action is choppy and not clean on the pullback and then begins to clean up once pulling in to a support area. This could be showing me the potential of a reversal developing in the name and I want to begin to look for reversal signals.
What are the variables - (Checks) in my favor for this set up
Name in play with fresh positive catalyst STORY
Chinese official pledged support to help tourism in Macau which has been a large concern for this stock
Gapping up above prior key resistance level at 55 (was shown to be a buyer at 55 in pre-market where it had found resistance tuesday when it tried to bounce
Gap up is above prior R and taking out the past 3 days of trading on a name that was extended lower
Name has 15% short interest so this may lead some shorts to cover
Additionally, a comment like that could act as a strong positive catalyst if follow through occurs creating a strong rally in all chinese associated names as it means the government is willing to step in and support.
My thought process-

I was looking for a long play in this name as it can often provide solid momentum moves and out of the gaming space, WYNN was showing cleaner action in the pre-market than LVS or MGM with a buyer at 55.
This name can get some nice momentum higher for solid opening drive plays when there is enough volume so I want to look there.
Was thinking that if I could get a nice momentum scalp higher on the open that would be nice.
(performance trigger, managing my expectations for reward instead of managing risk)
What happened and how I responded
Action dipped below 55 briefly on the open on large volume but then popped right back up above 55. On the open the spread was really wide so this move down helps me tremendously as the spread comes in and I can control risk much more
Long on move back through, when I sold out of the move on the break and consolidation above R I recognized the strength so instead of thinking to keep my focus here, I put my focus into LVS and tried to catch a morning play there (see anti-playbook)