TSLA Trade on Aug 8, 2022 09:33 from quanphan135: Tradervue User Stock Trades.

The set-up: Momentum Setup

Pre Market Prep:
Last Friday closed: 864.51.
Pre-Market High: 895
Pre-Market Low: 876
We have: 890, 893, 898, and 900 as key resistance and need to hold there to bullish
We have 880, 875, and 870 (key support) if broke, I remain bearish. (Also watch out for 857 support)

Trading Idea: when the market is open, I want to see more data to confirm whether a break-out is at resistance or a fake breakout.

If we open and have a fake break out of 885 and 880, I will enter a short position to capture profit. I also want if it touches 870 and holds, I will get a long for reversal/recovery to capture short profit as well.

If we successfully break out 890, I want to see the tape if the price holds and is confirmed, then I will go long as the resistance 890.

Please always look at Vwap to get a more general market during the price action.

Remember to: enter an excellent entry and reward 1:5

Trading Live:

1) Momentum (SHORT)

Market open at 884.50 quickly pulls back 878 (880 support level) but does not break a quick recover to 889 and tried hold at resistance 886. For the momentum, I want to see if the stock can make it to the next resistance 890, and see if it is weak I will grab a short at 890 and exit as 2 points. I see stock did reach 890, a huge seller on the tape. I confirm this is my setup for quick SHORT. I bought (12 AUG 22 885 PUT) at 887 and exit at 886 (1 point)

2) Momentum (SHORT)

At the 6th candle, the stock trade at 890-892 but still struggles to stay at resistance level 890 there. With that said,I quickly enter (12 AUG 22 885 PUT) at 890 and SOLD it at 889 (1 point)

3) Momentum (SHORT)

After that, the 7th candle, the stock broke its resistance 890, I above vwap, I understand this will be a BULLISH Pattern and will keep continuing to trade higher, the next resistance is 894. I want to wait until stock creates another high intraday. Then, the stock does break its resistance at 894 and traded higher and the next resistance at 900. Stock is struggling to stay at 897-898. Then I bought (12 AUG 22 900 PUT) at 897 and sold at 896 (stock does pull back to its support 895)

4) Momentum (SHORT)
After a few mins struggles, stocks still have a very strong bull trend. Again, It broke another next resistance was 900 and traded higher to 903, and tried its best to reach the next resistance at 905. The stock struggled to stay at 905. I bought (12 AUG 22 885 PUT) at 905 its resistance and SOLD at 903 (2 points)

What I did Right:

Today was a good day. I trade without any FOMO. I am super patient to see price action and the tape. I do see so many broken important level resistance and the trend are super bullish at the open. The reason why I go SHORT is that I want to see its price going to the next resistance and struggle to break it (then it will pull back), that is why I go for SHORT at those important resistance levels. And capture a quick gain on the bull back.

What I did Wrong:

I did not make any mistakes today but there are things I could improve.

Where I could improve:

Instead of this trading SHORT is based on my setup on the important level. I could play LONG/CALL or wait for the pullback of its support while the stock already is a strong bull strength. The stock traded above vwap, breaks out so many important resistance levels. Then, I can have a better big gain when I GO LONG RIGHT? I will learn this pattern next time and improve my setup to capture even more gain! But of course, PNL is not important, but I do want to improve my trading skill and my setup like this strong tsla bull today to capture more gain if my setup is LONG, BREAK OUT PLAY.

Trade grade: B+

Video Live Trade Below