JPM Trade on Aug 12, 2022 13:21 from bockr25: Tradervue User Stock Trades.

The set-up: Pattern Alteration Long - broke through 115 & then 120 resistance levels with two strong confirmation days.

What I did Right: Entry was solid, and I was more patient than I usually am with this one, I waited for a full 2 confirmation days and for the price to break the former resistance level of 120 before entering.

What I did Wrong: Feeling pretty solid about this trade so far. I missed the correct entry date by one day...was a little late to the party.

Where I could improve: Did I chase this trade? I don't think so, but one could argue that the price gapped up a little too strongly Wednesday after barely breaking through 115 level Tuesday. I ended up chasing this trade a little bit, but missed it by one day. I probably got out a little sooner than I should have as well.

Trade grade: B-/B

Big-picture: Broad markets started off trading more neutral and then broke more bullish by midday. Price momentum showed strength through 120 level so I decided to enter.

Trade parameters: Broke through 115 resistance Tuesday slightly (had failed at this level 5-6 times previously), waited for two solid confirmation days before entering to make sure it wasn't a false breakout like last several attempts. Was a little worried about 120 former light resistance level, but broke through strongly Friday and decided to make entry midday.

Entry: 08/12/22 01:21 PM ET Buy 3 JPM Oct 21 '22 $120 Call Executed @ $6.37

Trade Management: Placed initial Conditional Stop @ 119.50, going to stay bullish if it can stay above 120 in the following days. Looking for quick hold trade and for the price to run up between 125-130 in the next 1-2 weeks.

Up intraday about 6% already after mid-Friday entry.

Exit: Next level of resistance is probably 125 or 130, I will be watching these levels closely.

I got nervous with some intraday broader market movement and decided to take the small win. I got out of the trade a little too quickly, but you live and learn.