MVST Trade on Oct 21, 2022 09:57 from SchubyTrades: Tradervue User Stock Trades.

TRADE/SETUP/BIG PICTURE
MVST was on watchlist since Wednesday. big picture suggests a continuation since dip got bought at 2$ level and reclaimed first day highs. Probable area of resistance at 2.5 , technical and psychological round number level.

ENTRY/SIZING
ENTRY 1 - set limit order at 2.48 expecting some sort of goalie pull / stop hunt based on the first 20 min action.. felt like break out chasers would be trapped, already seen this type of price action alot of time.

ENTRY 2 - Rehit very small with 25% of usual risk the 2.5 rejection with biggest volume bar of the day, with idea to let this one work.

EXIT
Exit 1 - covered 1/4 when flushing below vwap to reduce risk covered 3/4 at flushing at 2.3 big key level.
Exit 2 - edge had gone imo and fels like it would now consolidate around vwap all day. lost patience and covered it at entry point to protect gains and ending the day green and avoid friday afternoon headache.

RISK MANAGEMENT
ok, nothing to say, stop set at 2.63

PROCESS EXECUTION
MVST big picture suggests a continuation type of move and thus, proactive covers on flushes . Process respected based on big picture.

What I did right : patience on entry, selling to 2.5 breakout chasers with a limit order, and covering flushes 1/4 and 3/4 instead of 1/2 ,1/2. keeping this stock on watch.

What I can improve: pretty satisfied with this trade. and the way i managed it. still a scalp type but I'll take it, singles add up.

TAGS : EDGE/SETUP/ENTRY/SIZING/EXIT/RISK MANAGEMENT/RIGHT-WRONG/PROCESS RESPECT/GRADE