TSLA Trade on Aug 12, 2022 09:33 from quanphan135: Tradervue User Stock Trades.

The set-up: Break Down/Break Out/ Momentum/Scalp

Pre Market Prep: 8/12/2022
Last Day closed: 859.89
Pre-Market High: 870.96
Pre-Market Low: 864.50

We have: resistance at 870.60 ; 874.25 ; 876.22, 878.62 ( Important resistance level: 880 - need to hold to remain bullish break out - long ; if need a fake break out, short is the play)

We have: support at 865, 861; 858; (850 - need to broke to remain bearish - if that a fake break down, watch for a reversal and go long).
Current Pre- Market Vwap: 867

Trading Idea for Scalper:

1) Bull Case: When market is open at 865-868. I want to see if price can go up to 870-ish and hold the bid. If yes, I will GO LONG and looking for exit at next resistance at 874;876;878

2) Bull Chase: If price does break 880, holding strong, I will re-enter my LONG position at support level and looking exit at next resistance 885-890

3) Bear Case: when Market is open at 865-868. I want to wait if the price going down to 861 support level. If yes, and broke and hold. I want to enter a SHORT position at resistance level 864-863 and exit at 858 next support level.

4) Bear Case: If price continue to hold the breakdown 858, I will re-enter my SHORT position at 858 and looking to exit at 853-850.

5) The Reversal: We bounce so many time at 857-and 850 – those two are important support level. If you look at for a reversal play, please wait until sell pressure complete and seller lift their ask. I will watch and enter a LONG position when those sellers lift the ask for a reversal play.

Remember: There is also a successful or fake breakout and break down. Always be patient with the price action telling you, if you trade 1m candle, also check 5m and 15m candle to tell you the full story/direction. (Trade need to be enter at: EXCELLENT PRICE/RISKWARD)

LONG AT SUPPORT – SHORT AT RESISTANCE

What I did Right:
1) NO FOMO
2) Super Patient about my entries and exit
3) Trade based on my pre game and setup

What I did Wrong:

Today, I made huge mistake (I want to buy a put, but instead I mistakenly buy a call) - I need to double check this before I buy/get in any position in the future. This cost me -$162 for this mistake

Where I could improve:
I will need to double check the position that I want to buy before get in any position in the future.

Trade grade: B+

Trading Video Below