CHWY Trade on Jul 22, 2022 09:37 from AndyBhanver3: Tradervue User Stock Trades.

TRADE IDEA - (TREND TRADING, BREAKOUT AND BREAKDOWN, REVERSAL TRADING, MOMENTUM TRADING, GAP AND GO)

PLAY IDEA/SETUP - DAILY RANGE BREAKOUT

REASONS TO ENTRY (ENTERED CLOSE TO A SUPPORT/RESISTANCE THAT WAS HOLDING) -

- #1. ENTERED HERE AS WE BROKE OUT OF THE DAILY RANGE HERE AROUND 45.5 BUT ENDED UP ENTERING AS EW BROKE THE 45.7 LEVEL AS THAT WAS THE HIGH OF THIS RANGE - 45.7

- #2. CHWY WAS STARTED TO BREAK HERE AND WAS LOOKING FOR THE CONTINUATION HIGHER

REASONS TO EXIT (EXIT AT SUPPORT/RESISTANCE WALL/EXTENSION) -

- #1. FIRST EXIT WAS AS WE MADE A LARGE MOVE UP, TRIED TO FILL AT 47 FIRST BUT SWITCHED TO 46.99 AS THIS 47 LEVEL WAS A WHOLE PYSCH NUMBER LEVEL, DIDN’T GET FILELD AT 46.99 , BIDDED OUT ON THE SMALL PULLBACK AND GOT HIT ON THE SPREAD

- #2. WE GOT ANOTHER LEG HIGHER HERE THROUGH THE 47 LEVEL WHICH WAS NEAR MY NEXT KEY DAILY LEVEL HERE, CHWY WAS EXTENDED HERE AND MOVED A LOT FROM THE RANGE BREAKOUT, WANTED TO GET A BIT MORE AGGRESSIVE IN SCALING OUT HERE ON THIS LARGE EXTENSION MOVE HIGHER, SACLED OUT HERE DUE TO THIS KEY LEVEL RESISTANCE HERE AS WELL AS THE INTRADAY EXTENSION

- #3. LAST EXIT WAS ON THESE RUNNER SHARES, JUST LETTING IT RIDE THE 1M 9EMA AS THE MOMENTUM WAS STRONG, BIDDED OUT HERE ON THE BREAK BELOW THE WM 9EMA, GOT HIT ON THE SPREAD HERE AS I BIDDED OUT 

PT - #1. HAD A TARGET AT 47.13 HERE, STOCK WOULD STOCK TO HIT ITS ATR HERE AND WOULD NEED TO BE MORE CAUTIOUS HERE AND IMPLEMENT A TRAILING STOP AT THIS POINT OR MOVING UP A MENTAL STOP HERE

MARKET CONDITIONS - MARKET INDICES DID HIT KEY RESISTANCE HERE, SPY HITTING 400 AND REJECTING AND REVERSING, QQQ ALSO REVERSING TO THE DOWNSIDE HERE AS WELL- CHWY DID SHOW RELATIVE STRENGTH OFF THE OPEN BUT ONCE MARKETS STARTED TO REVERSE, CHWY STRUGGELD TO HOLD AND FOLLOWED THROUGH

TAPE (AROUND SIGNIFICANT AREAS) - #1. ENTERED AS WE STARTED TO POP UP HIGHER, TAPE WAS SLOW HERE, LOW LIQUIDITY AND VOLUME STOCK, BUT POPPED INTO HOD AROUDN 46.7ISH WHERE I ENTERED, WE POPPED NICELY UP INTO 46 AND CLEARED THIS WHOLE NUMBER, WASN’T A LOT OF ORDERS WAITING HERE

- #2. STARTED TO STRUGGLE AROUND 47 PRICE LEVEL HERE, TRIED TO CLEAR HERE BUT SELLERS WERE PRESENT, HOLDING STOCK HERE FOR A BIT, I ENDED UP BIDDING OUT HERE AS I DIDN’T GET FILLED AT 46.99 

- #3. AFTER A SLIGHT PULL IN AT 46.88 WE GOT BIDDED UP AGAIN, HERE WE HAD NOW CLEARED $47 AFTER HOVERING AROUND HERE FOR A FEW MINTUES, SKIPPED VERY FAST UP 10 CENTS STRAIGHT INTO 47.09 - 47.11 HERE

- #4. AFTER CLEARING 47, EASILY ABLE TO POP UP INTO 47.2 HERE AND THEN UP INTO 47.3 WE HAD SOME SLELRS HERE AND WE HAD SLOWED HERE ON THE TAPE 

- #5. AFTER A MINUTE ENDED UP CLEARING 47.3 HERE AND POPPED UP INTO 47.49 SKIPPING PRICE POINTS, ENDED UP REJECTING QUITE HARD HERE, SELLERS VERY AGGRESSIVE HERE, 

REFLECTION - #1. LOOKING BACK, WASN’T BAD EXECUTION TO SAY THE LEAST, ENTRY COULD HAVE BEEN A BIT SWIFTER AND CLOSER TO 46.7 - MAYBE GETTING 6 CENTS BETTER ENTRY HERE BUT I DID OFFER IN, NICE SCALE OUTS, SHOULD HAVE CONTINUED TO SEND ORDERS AND LET THEM FILL, BIDDING OUT HERE I ENDED UP TAKING HITS ON THE SPREADS HERE WHICH I COULD HAVE DEFINTIELY AVOIDED ON THE FIRST SCALE OUT AND LOCKED IN 10 - 15 MORE CENTS PROFIT, I DID BID OUT ON MY RUNNERS WHICH WAS GOOD BECAUSE WE STARTED TO GET QUITE AGGRESSIVE SELLING PRESSURE HERE

- #2. FELT COMPLETELY COMFORTABLE IN THIS TRADE AND DIDN’T CARE ABOUT THE OUTCOME, FOLLOWED SCALING OUT AND HOLDING RUNRNES, ENDED UP MAKING 2.5R EVEN WITH MESSING UP ON THE ENTRY A LITTLE BIT AND FIRST SCALE OUT WHICH ISNT BAD AT A LL

MISTAKES (DON’T GET UPSET AT LOSSES, BUT GO BACK REVIEW AND MAKE SENSE OF WHAT WENT WRONG WHY DIDN’T THE TRADE WORK AS YOU EXPECTED IT TO AND ONCE YOU FIND THE SOLUTION YOU WILL FEEL MUCH BETTER) -

- #1. I FEEL LIKE MY ENTRY COULD HAVE BEEN A BIT SWIFTER, KIDN OF GOT IN AS WE SPIKED UP BUT NOT THE WORST THING HERE, MY FIRST MISTAKE WAS ON MY FIRST SCALE OUT I BIDDED OUT HERE, I ENDED UP CANCELLING MY ORDER THAT WAS WAITING TO FILL AT 46.99 AND BIDDED OUT ON THE PULLBACK AND LOST 10 CENTS ON THE SPREAD AND BECAUSE OF CANCELLING MY ORDER AND GETTING OUT ON THE PULL IN, I  COULD HAVE LEFT MY ORDER FOR 46.95 HERE TO GET FILLED PRIOR TO THE 47 LEVEL AND WOULD HAVE LOCKED IN 9 CENTS MORE ON THOSE SHARES INSTEAD OF BIDDING OUT ON THE PULLBACK

- #2. ALSO HAD AN IDEA THAT IF WE CAME BACK DOWN INTO THE RANGE WE COULD BE SELLING OFF AND THIS COULD BE A TRAP, VERY NICE EASY FLIP TRADE HERE AS WE CAME BACK INTO THE RANGE, AND THIS STOCK JUST FADED OUT AGGRESSIVELY, MOVED 2X ITS ATR AND THIS DOWNSIDE TRADE WAS EASILY A 3+R TRADE HERE

IS THIS STRATEDGY WORKING OR NOT? PROBLEM? SHAKEN OUT TOO EARLY, RIGHT TRADE WRONG TIME, TOO TIGHT STOP LOSS?

WAS THIS A GOOD TRADE? YES NICE TRADE EXECUTION AND IDEA HERE, DEFINITELY COULD HAVE FLIPPED SHORT ONCE WE ROLLED OVER HERE, GAVE A BEAUTIFUL HERE BACK DOWN THROUGH THE LOWS AND BACK INTO THE RANGE DOWN INTO THE 42.5 LEVEL

DIDNT REALLY GET THE SIZE I WANTED, WAS INVOVLED WITH TRADING TESLA OFF THE OPEN AS WELL FOCUSING MORE ON THAT POSITION, FLIPPED TO EQUITY ON CHWY HERE AND TOOK A SMALL POSITION, YES MORE SIZE IS GREAT, BUT FOCUSED ON PROCESS > PROFITS, LIKED HOW THE TRADE PLAYED OUT AND HOW I SCALED OUT, COULD HAVE DONE BETTER SETTING MY LIMITS AND LETTING THEM FILL RATHER THAN BIDDING OUT WHEN I DIDNT NEED TO, GOING BACK ABOUT A 2.5R FROM MY STOP WHICH ISNT TOO BAD, COULD CARE LESS ABOUT THE MONEY, LIKED THE EXECUTION HERE,