AGRI Trade on Mar 25, 2022 08:55 from BanalityOfEvil: Tradervue User Stock Trades.

AGRI – premarket scalp with intraday runner

CATALYST
• No fresh news
• Momo runner from March 10th
• Bullish intraday traders remember this and will be eager to jump on
• No big early MOMO movement for past couple days, traders will be hungry

TRADE IDEA
AGRI could touch $7 or higher by 11am

SETUP QUALITY
B

BIG PICTURE
• AGRI on watch from yesterday, former momo runner from earlier this month
• Low float 12M shares
• Daily areas to watch (5, 7)
• Short float 7%
• ATR .80
• Gapping up over 3x tested daily $5 level after 9am
• Spy bullish holding 450 in premarket
• VIX has been calming down, but holding at 21

PLAN
• Get long with as much size as possible once yesterdays high has been broken, and price has pulled back, but not dropped below long term $5 level
• Cannot stay on desk past the open. Scalp out of 2/3 position under $6, and hold 1/3rd intraday until R2S, monitoring from MOBILIE
• Premarket and Open stop is a break below $5
• Other reasons to sell – stock hits $7 target and weakens, or capitulates and starts to collapse intraday
• Trade no more 500 shares because yesterday was biggest red day I have had this month

EXECUTIONS AND PRICE ACTION
@8:55 – long 350 shares - “premarket movers” scanner picked up AGRI, it had been floundering after a strong close yesterday on light volume in todays premarket, but as soon as I saw some volume was coming in and $5 was broken to the upside I knew this was my trade for today
@9 hit out 1/3rd @ 5.75 as planned
@9:10 hit out another 1/3rd @ 5.75, trying to let this work but wanted to pay myself something since I need to leave for work in a few minutes.
• Will hold 1/3rd into the open with max stop @ $5
@9:37 added very small size on 1st pullback above opening price above $5.50, Moving stop to $5.13
@9:52 price has moved below $5 took ½ off
@10:14 price moves below 4.90, stopped out

• Should have just played this as a straight scalp since I had to leave for work

KEY TAKEAWAYS
• Good job utilizing your scanners to locate this trade. Without your “premarket movers” scanner you probably would not have caught this today when I was doing my pre-trade journaling
• Good job keeping on watch from last night
• Good job swinging the bat when premarket areas on chart were broken with volume, and committing to this solid setup quickly
• If scalping, take 90% of profit quickly
- if holding runner after leaving for work, then move stop up to last support... no need to give back so much profit
- turned a nice trade into a tiny win