TSLA Trade on Aug 11, 2022 09:33 from quanphan135: Tradervue User Stock Trades.

The set-up: Scalp with Momentum

Pre Market Prep:

Last Day closed: 883.07
Pre-Market High: 886.56
Pre-Market Low: 871.03

We have: resistance at 885 ; 890 ; 900 (890 - need to hold to remain bullish break out - long ; if need a fake break out, short is the play)

We have: support at 880, 878; 874; (874 - need to broke to remain bearish - if that a fake break down, watch for a reversal and go long).

Current Pre- Market Vwap: 882

Trading Idea for Scalper:

1. Bull Case: When the market open, I want to wait to have more data. In Bull case, I would like to see market open at 885 and stay there, held bid on tape, if it stay there, I will go Long and looking to exit at 890 resistance

2. Bull Case: At 890, if we successfully break out and hold, I will rebuy my long and looking exits around 893-894 and looking for 900 next resistance

3. Bear Case: if we open at 885 but struggle to stay there. I will go short at the support either 880 or 878. No need to buy at 885 because we will ned more data = time = WAIT!

4. Bear Case: If 885 does broke and become support, I want to see 890 struggle and go short.

5. If 885 broke, 880 broke I want to look out at 870-865 to make a reversal play (Bull)

Remember, we always can have successfully or fake breakout/breakdown of TSLA (This is very common).

If you play break out = bull (always try to buy at support)
If you play break down = bear (Always try to buy at resistance)

What I did Right:

1) Scalp based on my setup
2) I increase sizing today.
3) Patient and looking for a perfect setup 1:5

What I did Wrong: None

Where I could improve:

1) Sizing
2) Today was a difficult day to scalp Tsla since volume is slow and going side way the whole morning. Not sure what direction as well.
3) Find stock in play

Trade grade: B+

Video Live Trade Below