NKE Trade on Nov 14, 2022 10:08 from quanphan135: Tradervue User Stock Trades.

The set-up: Moring Break Out / Relative Strength

When market is open, SPY was retest to opening price. Then pushing up. I saw the same pattern with NKE. My NKE key level was 160 to trade break out upside. When seeing a huge volume coming up pushing up. I bought LONG at 106. I am risking around 20c (SL: 105.87). After that, I tried to extent my stop loss into demand zone under 105.50. SPY keep going to my key level but its keep getting rejecting. At the same time, NKE also having hard to hold my key level. After both SPY and NKE pushing down hit my stop loss. I cut my trade and experience a 33% loss for this position. This was a huge loss.

What I did Right:

I think I was righ when I see a uptrend momentum both SPY and NKE. For NKE, I think I could entry better. Overall, Market was not great during the first 2 hours at open.

Other thing I was right is I was only trade this position very small size.

What I did Wrong:

1) Think I was wrong is I was expand my STOP Loss, where only risking 20c into more than $1.

Trade grade: Failed