TSLA Trade on Oct 10, 2022 09:42 from quanphan135: Tradervue User Stock Trades.

The set-up: Opening Drive Play - Break Down (Failed Break Down) (TSLA Holding Strong Compare General Markets)

Pre-market gap down and recovery at the open, seems strong, holding $220-$222 key support level. At the market is opened, I am very patient to wait and see a clear trend. Either if TSLA could hold pre-market high $225 to go LONG thesis or retest back to $222 support level.

After getting rejected $225.50, immediately blush down broke key support level $222, next candle attempt a pull back to 222 but rejected, knowing this is the play right here, I could enter at $221 and risking $1 and target 2R downside.

Unfortunately, I did not buy the pull back $221 that time because I want to have clear trend and I saw the next support are $220 (only $1 aways, there could be a bounce that level. So it's better if I could wait and see more clear trend). After that, stock keep pushing down broke $220 psychology support level to $218.50 (pre-market low). See in a down trend momentum are confirmed by me and this is my A+ Setup. I wait a pull back just to enter a SHORT trade position (break down).

Stock pull back to $221 area, I enter a 2 PUT contracts, risking $1 (SL $222), target $220 (1R) - $219 (2R). After entries, I immediately set a stop loss and wait this trade to work out. (I am not FOMO or get shacking out and had my emotion calm today by fully accepted the risk that I pre-defined before I enter). - Stocks going my favor, at my 1R target, I scale out the first contract and keep another want for the 2R (still at my SL price). At the $220 level, its failed the break out (held the bid), stock immediately bounce back to $222, hit my SL and my setup turn into FAILED BREAK DOWN. Lock in only $12 gross profit for the trade (thank you scale out and lock in gain at 1R). Still happy with my trade and the way I play it out!

What I did Right:

1) Patient at the opened to confirm trend and price action before entries

2) After confirmed the trend, draw clear entries and SL lines.

3) Enter at a PULL BACK Only! - Make sure Stop Loss is make sense in chart and bigger picture.

4) Set hard Stop Loss

5) Patient and let the trade play out right!

VERY GOOD TRADE TODAY!

What I did Wrong:

1) Missing out the first potential SHORT entries where is the same anyway, enter at $221 and risking $1 (SL $222) - I could getting all the way down to 218 if enter earlier! (But I want to patient instead of rushing and make small errror)

Where I could improve:

1) All is good

Trade grade: A

The set-up: Fade Down (High of Day) (Risky Trade Because I did not trade with Trend)

This trade was not in my pre-market plan, but I saw there is an opportunity where I could risk small but target a lot of downside (2R)

After seeing stock getting into 226.50 (HOD), immediately getting rejected (2 time). Once the stock reaching one more time to 226 are, I enter 2 PUT contract at 226 and risking about 0.50c (after that, I realize I could risk $1 instead). So I set my SL at $227. Focus on the downside play.

After getting about 50c on my favor, I sold both contracts and lock in fully gain with scale out or waiting to hit my R/R target ($70 gross profit). The reason I lock in is because, Fade Down still not my A+ setup trade. But, still I should let the trade playing out if it not hit my Stop Loss. But in general, its nice to book a small win after 3 straight red day last week.

What I did Right:

1) Risky play but I identify the bigger picture and potential Fade Down Setup (Not my favorite setup for now)

2) Very good entries and small stop loss (eventually I moved my stop loss back to 50c risk only)

3) Lock in fully gain where this trade is turn 1.35R (I could scale)

What I did Wrong:

1) I could scale out

2) This trade are not in my pre-market plan ( I do observe before enter this trade)

Where I could improve:

1) Scale Out

2) Tried to not trade this setup if there is no opportunity like today (Again, it's a risky trade and do not had in my pre-market plan, try to be very picky if I trade this (fade down setup in the future)

Trade grade: B-