TSLA Trade on Sep 14, 2022 09:34 from quanphan135: Tradervue User Stock Trades.

The set-up: Break Out

Pre-Market Prep: 9/14/2022

Last Day closed: 292.13
Pre-Market High: 294
Pre-Market Low: 289
Current Pre- Market Vwap: 291.42; 293.28; 295.19
We have resistance at 292.51
We have support at 290; 285.25; 287.93; 286.77

Catalyst:

Week of 2nd Sep: Market Sell Off – Hit Hard
Week of 9th Sep: Market Bounce!
Last Friday: GAP UP from 290 to 293.70 (SIDE WAY/BULL/BEAR)?
Monday: GAP UP ((SIDE WAY/BULL/BEAR)?) NEW CPI THIS WEEK
Tuesday: Hard Sell Off General Market – TSLA Down $11-PreMarket
Wednesday: (SIDE WAY/BULL/BEAR)? – We have a sell off hard pre-market and during the day. Hopefully we can see some side of recovery, and trade some break out if we have enough volume. If market decided to sell off more, I will watch if I could trade any break down. Again, I will respect the market action and flow in the market. I will not be hoping anything from the market that going my way

1)Bullish (BREAK OUT SETUP): Market is showing some sign of recovery during the pre-market. Tsls are trading at 291.80 just right at support vwap 291.47 (support TA: 291.64) and held there. I will ONLY be interested to go LONG and play breakout if I can see TSLA broke resistance 292.51 and 293.28, I will make sure TSLA broke those two resistances, and held the bid at those two, as well as I will only BUY at the pullback only – I will make sure volume is check, above vwap check and general market is going up (SPY AND QQQ)

2) Bearish (Break Down Setup): When Market is open, I will only wait for the opportunity come to me and present itself like when I play poker. To be bearish and play breakdown setup, I am interested if to day Tsla broke 290 and held the ask, I will buy the bounce back. (Yesterday tsla attempt many times to broke 290 and stay there but (fall breakdown) and slightly recovery to 292.13 – I will more caution to play this setup

Live Trading:

1) Market is open at 292.06, immediately shooting up and broke resistance 292.20 & resistance 293.20, seeing this break out, I confirmed this will be a good break out play. Now, my job is buy at the pull back at at least 292.44 support right at the VWAP support as well. After Tsla from 294.50 pull back to my support target 292.50 ($2 pull back). I bought a CALL contract for $5. Risk .25 underlying asset, target gain at $1 to $2 underlying asset. After the entry, volume still increase but suddenly the bid at support 252.50 is lift and reaching my target loss, I hit the bid at and sold my contract 4.85 (.15 cent per contract) - After SOLD my contract, tsla drop to 291.65 support, (hit the bid early save me $.50 RIP OFF from underlying meaning 0.25c contracts)

What I did Right:
1) Good patience to wait the pull back ($2 underlying)
2) Follow risk 1:5/ contracts: risk 0.25c to get $1
3) Cut at 0.15 (beautiful fast hit at the exit -0.25)- save me 0.50c RIP OFF

What I did Wrong:
None

Where I could improve:
Tsla immediately bounce back right at the support 291.75 and jump over 292.50 and trade above vwap. Reading next trade please.

Trade grade: A