LVS Trade on Oct 2, 2015 10:16 from Holden: Tradervue User Stock Trades.

Similar to what I noted in the Dev play but taking a play without clear confirmed trend developed- LVS
Similar issue to yesterday where I just do not have enough checks in my favor for a play here. I dont want to be pushing or even entering a trade when I dont have a set up I like (had it) AND a play that has confirmed (did not have it yet) I was looking for a possible break higher above R level and a potential trend move to develop but what I failed to do was to allow the action to really set up for me. It was still choppy, consolidating, but I looked at it like it was consolidating and that it was ready to break higher (it was not and it did not). However, there was a really nice set up that did develop but by that point I had moved on as I was not able to effectively execute the play.
What was I looking for

LVS was in play with WYNN and MGM based on Macau stimulus
Gap up but had a large pre-market range with a pullback.
Consolidation above key R level and momentum break higher
In order to have this I want to see a really tight, clean consolidation at the highs so I am able to control my risk effectively while still being a position where there is a high likelihood of the action breaking out of R and beginning to trend.
I will likely need big picture support for this move as well so need to be looking for that on this gap lower.

My thought process-

Action had broken higher off the opening consolidation and I was looking for a potential continuation play from there as SPY had spiked higher as well.
Probably was experiencing FOMO at the time and was looking to play catch up in this name as the action here had not broken higher but I was looking for that to occur given the gap up above 38R and strength in the sector.
Basically thought- WYNN already broke higher, LVS is going to break higher as well so let me buy this consolidation above 38.5 looking for a clean break higher.
Why is this my anti-playbook trade and what do I need to do to improve
Wait for a real consolidation into R that gives me edge not a consolidation below R because that may quickly get rejected. A consolidation right up into R gives me a much better r/r and also a higher probability of a real break out.
Was stopped out quickly