LULU Trade on Nov 17, 2022 10:27 from quanphan135: Tradervue User Stock Trades.

The set-up: Reversal trade (Relative Strength)

Despite gaping down during the market. LULU was holding at there supply zone and support. Could not flushing down. After seeing some momentum and building strength. I decided to to went long at $351. Risking around $2 for this trade. Target upside 355. (Entries could be better if I bought at demand zone 348-349). (Because of enter at 351, I experience ALOT of draw down $500 draw down at one point). After spending a whole day to monitor the position. At 12:30, seeing SPY building strength as well at LULU.

I scale my position at $353 & $353.20 (only 1.41R play).

After few more min, LULU reaching to $355 (where hit my reward target 3R trade)

What I did Right:

1) Good idea but bad execution

2) Monitoring this position too long, experience $500 draw down at one point. Super stress but find a reason2hold and the reason it if LULU broke my demand zone. I will sold it for a loss.

What I did Wrong:

1) Entries could be better if i could be more patient with this crazy market. I could buy at demand zone where I could plan my trade even less risk and more reward

Where I could improve:

1) I always make sure I look at all the time frame before I entries, but seems like so far, I will need be more patient and get even a better entries for this high probability and less risk more reward

2) 18% ROI is not bad at all. But I would like to sell my position at my reward target, so this trade could be 25 to 30% ROI - 3R trade.

Trade grade: C+