The set-up: Opening Drive/ Break Out Play
Market Gap Down
When the market is open, I saw tsla price holding psychology support 270 support (even its already below (VWAP 272.03). After that, tsla bouncing to (273.50 pre-market resistance), broke and pull back. I still wait market to give me a CLEAR TREND before setting any SETUP AND R/R
TSLA finally broke and trade 274-ish (This is a confirm break-out play setup and morning drive), now I only need to find a good entries have at least 1:4 R/R.
Tsla finally shooting to 278, finally pull back to 275.50, confirm this is a "Bull Trend" and "Healthy Pull Back" - I bought a CALL there at 276.25, risking about 50c & Target: $1 to $2 - And I got for 1:3R .. $1.60 points
What I did Right:
1) Having a pre-market plan.
2) Patient and Identify trend
3) Confirmed the trend and planning for setup with excellent R/R only.
4) Executed the setup/plan with cool mind and accepted fully risk. Let's the SETUP PLAY OUT THE PLAN
Where I could improve:
1) This trade could scale in, buy more the winner to maximize profit (I left $2 points run)
2) Increase initial sizing so that I can scale out for the winner run
Trade grade: A
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2022-09-26 09:46:47 | 30 SEP 22 276.67 CALL | buy | $7.650 | long |
2022-09-26 09:50:04 | 30 SEP 22 276.67 CALL | sell | $8.450 | 0 |
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