TSLA Trade on Aug 17, 2022 09:31 from quanphan135: Tradervue User Stock Trades.

The set-up: Breakdown Momentum

Pre-Market Prep: 8/17/2022

Last Day closed: 919.69
Pre-Market High: 921.99
Pre-Market Low: 908

We have: resistance at 915; 918; 920 (Important resistance level: 920 and 928 - need to hold to remain bullish break out – LONG, and we can see possible 935 -938 ; if that a fake break out, SHORT is the play)

We have: support at 910, 905; 898.49; 885 (910 - need to broke to remain bearish - if that a fake break down, watch for a reversal and go long).
Current Pre- Market Vwap: 911.52

Trading Idea for Scalper:

1) Bull Case: When market is open, I want to see if the first few minutes, stock can hold at important support 910 by reading the tape, I want to have a clear information that 910-911 a lot of bids (buyer) step in. There might be a pull back to retest its vwap, but then that’s really good entries point to go LONG and looking to exist at resistance 915-916

2) Bull Case: If we could hold at 918 resistance and official break it, I don’t see why from there we could get LONG and looking to exist at 925

3) Reversal Intra Top 925: Look at yesterday: despite many attempt to break and hold at 925 ( 5 times) we COULD NOT stay at 925. So, please let the market and this important level tell you the story, if we cannot hold at 925 like yesterday, I will enter a SHORT Position at the price.

4) Bear Case: This is easy (but also difficult), since we always have a green day for tsla, based on my TA. If we could not hold at 910-908, SHORT at those resistance is a beautiful play, but again, there will be always a fake break out as well and retest vwap to make stock higher. SO, I always look at VWAP, 5m candle and 15m candle to tell you the whole story of market because making any trade ( IT’S OK TO MISS OUT OPPORTUNITY, I ALWAYS MISSED, BUT PATIENCE IS A KEY FOR THIS GAME)

5) Bear Case: If we broke down to 898, I don’t see why we could not retest the next important support level 885.

6) Reversal Bottom: We have FOMC meeting today. The market is set to sell off this pre-market. Catch bottom as some event today is hard. I will let the market decided if I want to play this setup, if not, that’s fine. Live and fight another day!

What I did Right:
1) Show the tape struggle in the morning to play SHORT MOMENTUM AND BREAK DOWN TREND
2) Increase my size
3) Hold my position to catch the downtrend/breakdown momentum based on my setup

What I did Wrong:
1) First entries was pretty bad, after I enter my position, share going up like crazy
2) I double down today at pretty good price based setup but again, I always want to find the excellent entries and reward

Where I could improve:
1) Be more patience at the open
2) Increase the size = increase the risk. I want to slowly increasing my size but I do not want play any double down play.

Trade grade: B

Video Below