COIN Trade on Oct 20, 2021 12:45 from AtlasVanguardPaperTrading: Tradervue User Stock Trades.

Playbook: COIN 10-20-21

Name: VWAP Bounce

Big Picture:
What does the related and broader market look like?
SPY opened the week by pushing out of a heavy demand zone at 444-446 and then continued to trade in an uptrend into the open on wednesday the 20th.

What were important levels intraday in the SPY/QQQ?
451 was PM High
449 was PM Low
451.25 Previous HOD

What is /ZB doing? Chart below:
Bond futures were trying to creep back up into the heavy demand zone I have drawn on the chart.

Where there any important events on the macro level?
BTC was moving.

SPY/QQQ/Bonds market chart here:

Intraday Fundamentals:

What is the ATR?
12.05

How does the option market look?
Huge volume

What makes the stock in play?
BTC and Crypto are moving.

TA:
What levels were significant in the trade?
311.40
312.87 ATH
VWAP 312

Did you trade based off a candlestick pattern?
No but coin was consolidating under ATH between my levels

What levels/TA did you used to plan your entry? Why?
I used the VWAP as a level but it didn't hold and then price held above 311.40 and reclaimed and then bounced off VWAP.

What was price action telling you?
Volume was building up quickly and I knew COIN would push hard through the ATH or reject but I had enough room to exit if it rejects.

How and where did TA give you the biggest edge?
Letting me know that an explosive move was coming and then giving me a risk cushion by getting an early entry off a level at the bottom of the consolidation.

Where did your TA fail you?
The VWAP initially did not hold so I had to exit with decent size and then re enter because it held. This over kept me from losing more by just holding.

Detailed TA Chart with any further explanation:

Reading the tape:
What did you see on the tape to initiate your entry?
I saw a ton of buyers hitting into the ask but I did notice the ask holding so when it broke vwap i knew it could come down fast. However buyers stepped back in aggressively and kept COIN heading higher.

What did you see on the tape to take profits early if you did?
COIN blew right through ATH so it presented a perfect opportunity to sell into momentum.

What made you add size?
When buyers drove price up through VWAP with ease. I was to exit if VWAP was broken again but it held.

Why did you sell?
Because there was some distribution over ATH and a lot of sellers so it was just best to unload.

Intuition/Trade review:
What intuitive lessons can you take from this trade?
I learned that it is okay to flatten and get a better entry than be squirrelly and unable to add enough size when the real set up hits.

How did this trade help you grow?
I am able to hit out on reflex knowing that I have the choice to get back in mostly.

How are you going to take what you learned and apply it tomorrow?
I will start experimenting with slowly adding size more instead of throwing on a full position and being more comfortable with risk while not doubling down or doing stupid stuff like that.

How can you get better entries and exits?
Be more patient and scale in.

Where can you be bigger in this trade next time?
On the bounce of VWAP I could have added another tier.