IVDA Trade on Apr 11, 2022 07:54 from BanalityOfEvil: Tradervue User Stock Trades.

PLAY

IVDA – premarket scalp

CATALYST

6:03:46AM
IVDA
IVEDA ANNOUNCES LAUNCH OF ITS UTILUS PRODUCTIVEDA (NASDAQ:IVDA), THE WORLDWIDE PROVIDER OF AI VIDEO SEARCH, INTERNET OF THINGS (IOT), VIDEO SURVEILLANCE AND SMART CITY DIGITAL TRANSFORMATION TECHNOLOGIES, ANNOUNCED THE LAUNCH OF UTILUS. UTILUS BRINGS TOGETHER
BZ Wire

TRADE IDEA

IVDA will break and hold above 3.50 and test 4

SETUP QUALITY

“C” – price is extended and news headline is not great

BIG PICTURE

• SPY testing long term support @ 440
• VIX over 20
• Fresh News
• Gapper
• Float 10M
• RVOL elevated in premarket
• ATR .50

PLAN

When I sat down this already testing 3.50. Planned to buy the break of 3.50, looking for immediate follow through on volume expansion and speed of tape increasing. Planning to start selling around 3.75 into strength with max target at 4. Full stop is break below 3.38 consolidation area.

REASONS TO SELL

• Stopped out
• Tape is slow
• Targets reached

EXECUTIONS AND PRICE ACTION

@7.55 bought the break of 3.50

@8.01 price had tested and broken 3.50 2x, but tape is heavy and topping wicks coming in with relatively heavy selling volume, almost matching the buying in the run-up. Did not like this. Starting lightening up.

@8:03 3.38 is broken, took stop

KEY TAKEAWAYS

• Good job respecting stop and managing risk, but this was a “c” setup, and was not worth trading.
• If news had been better, this would have been justifiable however you were late to the trade. The place to get long was around 7:45 on the 1st pullback after the news broke.
• Dumb trade

SYMBOL

SPY

VIX