TSLA Trade on Sep 7, 2022 09:32 from quanphan135: Tradervue User Stock Trades.

The set-up: Scalp/Momemtum

Pre-Market Prep: 9/07/2022

Last Day closed: 274.42
Pre-Market High: 275.29
Pre-Market Low: 272.22
Current Pre- Market Vwap: 273.69

We have resistance at 273.50; 274.32, 275.43, 277.15
We have support at 272.52, 271.22; 270; 266.48
Catalyst: We had a big sell off last week in general market as well as hit TSLA very hard, also sideway yesterday. There could be another sell off or a recovery as well. Look out for the trend and trade with it. TREND = FRIEND

Trading Idea:
1)Bull Case: When market is open today, I want to SEE AND WAIT/WATCH THE TAPE for a clear trend, DO NOT JUMP IN IF THERE IS NO GOOD RISK/REWARD OPPORTUNITY and see if there is any good setup to be bullish-go LONG. I’m interested to go LONG at any strong resistance and held bid at 273.50 & 274.32. Hold bid mean = Strong Buyer step in and broke those resistance and hold at those important resistance level.

2)Bull Case: 275.33 is also a very important resistance level, mostly we could see another uptrend/strong recovery at this resistance level. Again, I’m interested to LONG if the 275.33 are held the bid

3)Bear Case: Only become a bear if general market shows me a bear/sell off trend. Why? Because there could be a fake sell off and then a strong reversal (since we already had big sell off last week). But in this case: I wrote a support 273.50 and 272.51 If strong are trend down, below vwap, broke those support and held ask those level. I’m interested in SHORT but please also remind about your cut gain or cut loss when is going against you. DO NOT DOUBLE DOWN. MARKET IS HARD TO PREDICTING. RESPECT THE MARKET AND PRICE ACTION ITSELF. NO NEED TO HOPING.

4)Reversal Play: As per discussed, watch out for those important support level: 271.22, 270, 266.48. There could be a massive/strong reversal to switch and become a big BULL

Few Important to remember (Maximum profit and minimize the risk)
•LONG AT SUPPORT
•SHORT AT RESISTANCE
•TRADING WITH TREND; TREND IS YOUR FRIEND
•RESPECT THE PRICE ACTION/ MARKET IS ALWAYS RIGHT
•HIT THE BID WHEN TRADE AGAINST ME = SOONER IS ALWAYS GOOD = TRUST ME ON THIS (F4 IS THE HOT KEY FOR SELL THE BID)

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?
•DO I PATIENCE ENOUGH OR FORCE MYSELF TO TRADE?

Play In 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
•SET AND FOLLOW YOUR PLAN AND MAX INTRA LOSS
•WALK ALWAYS AFTER MEET YOUR TRADING PLAN
•LESS TRADE BUT PERFECT TRADE AND SETUP
•Trade 1 contract at open and few first trade to get green and confidence.
•If my first trade is at lost. Spend some time analyze why is lost before jumping to next trade

Live Trade: 5 Trade - I trying my best to get a green day first even a small gain with super small size - The reason for that is to get my confidence back after getting underperformed lately due to mental hurt from big loss + quitting nicotine.

1) When market is opened, I did wait and patient to see the price action and trend, I want to focus which support or resistance that price are react both important level through the tape - (One think I also look and see if interested work is trading with 1M but before enter the trade, I look at 15M longer time frame, to make sure my entries is make sense and where is the exit. Anyway, Tsla drop to 272.60 its important intra day support and quickly pull back to vwap and resistance 273. Seeing a strong buyer signal on the tape. I buying a CALL at Vwap support and sell it at its resistance. Following the trend. I know I am a scalper, this setup is a profit and I trade only 1 contract to get a small gain first (I need it). But by watching and journaling. I see 15M time frame and 5M time frame, very strong pattern support at 273.60. If Tsla held, it will create another intra high. In other words, this setup can be a TRADE2HOLD based on bigger picture and bigger timeframe. And the result is if I hold it I could sell at 280.50~. (Best entries trade2hold: if I can do it again: 273.50, 275 and 277, and exit at 280.50 important resistance level of 15M/1week timeframe)

2) Follow second trade, after missed so much opportunity the stay in the trade. And TSLA was too strong and uptrend. The safety trade are: CALL AT PULL BACK (SUPPORT) or Trade like a SNIPER "PUT AT INTRA HIGH/RESISTANCE". So I follow my plan for my 2nd, third, and 4th and fifth. Any new high, I was doing SNIPER SHORT THE STOCK FOR A QUICK SCALP. By minimize the risk for this sniper trade(SHORT STOCK WHEN STRONG), I also make sure that I look at higher timeframe 15M and 5M to confirm this is a good entries even SHORT the strong stock uptrend and where is my risk and reward to have a exist price in place. In other words, I SHORT AT RESISTANCE LEVEL THAT HARD TO BREAK BASED ON BIGGER PICTURE FOR 1 WEEK. AND IT"S WORK PRETTY WELL.

What I did Right:
1) Trade on my setup/scalp
2) Trading small size - get a small green day exactly what I plan for this week. I need to get my confident trading flow to my head and heart again
3) Reading the tape and talking with the chart is my strong skill and I happy that I always did that while Live Trading.
4) It's a good time to adding bigger picture and bigger time frame and look at important support and resistance BEFORE MAKING A TRADE (at 1M timeframe), it's does REDUCE THE RISK and Most Important Is MAKE ME FEEL MORE CONFIDENCE ABOUT MY TRADE (ENTRIES AND EXIT). SO, I COULD DECREASE MY STRESS AND FOMO AND STAYING STRONG IN THE TRADE.

What I did Wrong:
1) I did not do anytime wrong today. I CUT PROFIT FAST because again, my plan is this week, I WANT TO GET GREEN AND SMALL GREEN TO BOOST MY CONFIDENT. SO, tomorrow I WILL DID THE SAME!

Where I could improve:
1) The bigger picture and bigger timeframe 5M and 15M/1week is seems working very well both fundamental and psychology when I think about entries and exit. I will keep doing this to improve my thesis and setup.
2) I will keep trading at 1M timeframe but will NOT TOO FOCUS ABOUT the price action at 1M timeframe anymore. I think that all the timeframe are matter for a good setup risk/reward & entries and exit. Because by understand that, I will know what setup is TRADE2SELL or TRADE2HOLD

Trade grade: B