TSLA Trade on Aug 24, 2022 09:34 from quanphan135: Tradervue User Stock Trades.

The set-up:

Pre-Market Prep: 8/24/2022

Last Day closed: 889.36
Pre-Market High: 899.59
Pre-Market Low: 887.93

We have: resistance at 902; 905 and 910 (902 and 905, those are all important resistance that need to break and hold to remain bullish break out – LONG)

We have: support at 890, 885, 880 (890; 885 - need to broke to remain bearish - if that a fake break down, watch for a reversal and go long)
Current Pre- Market Vwap: 895.49

Trading Idea:

1)Bull Case: By market open, I would like to wait and see the price action, if Tsla could open and pump up to level 900, I would like to see 902 resistance is the next bid target, held the bid at 902 then I will go LONG

2)Bull Case: 905 always a major important resistance, if it held, I’m interested to go LONG

3)Bear Case: 890 is important support, if the held ask, I interested in SHORT

4)Bear Case: Same thing with 885 and 880, if is broke, I want to see a pull back and then SHORT again

5)Reversal Play: If 885 and 880 held, possible for reversal play.

Always remember
•LONG AT SUPPORT
•SHORT AT RESISTANCE
•TRADING WITH TREND

BEFORE ENTER A TRADE (THINK)
•IS IT A GOOD SETUP I WANT TO TRADE (1:5)
•DO I PICK THE RIGH POSITION?
•WHAT IS MY TARGET EXIT PRICE?

Play Defense:
•WHEN THE STOCKS TRADE AGAINIST YOUR SETUP AND AT YOUR EXIST PRICE = HIT THE BID
•DO NOT DOUBLE ON YOUR LOSS POSITION = HIT THE BID
•SMALL LOSS IS BETTER THAN BIG LOSS = HIT THE BID
•PATIENT WITH PRICE ACTION = RESPECT THE MARKET

What I did Right:
1) Trade on my setup
2) Cut gain on my target
3) Hit the bid on my target

What I did Wrong:
I could not find the momentum with good entries with tsla today. It's a final day for tsla after will split tomorrow

Where I could improve:
1) Trend is my friend. Always follow the trend
2) Let the runner run
3) Hid the bid earlier when trade against me.

Trade grade: B