Shared by
My_Day_Trading
The set-up: Stock broke out of a strong premarket resistance level and pushed up to Previous day close. Was looking for a pull back to VWAP on the 1min chart before entering trade. Stock pulled back to VWAP then ripped up above previous day close. Exited on first red candle on 1min chart.
What I did Right:
1. Used the tape to determine that VWAP was holding u well before entering trade.
2. Was patient in waiting for the stock to pull back to VWAP.
What I did Wrong:
1. Did not get up to full size even though the trade showed clean confirmation.
2. Was eager to take profits and didn't hold to my initial profit target.
Where I could improve: Small pull backs could be either an opportunity to get in full size or be patient and waiting for my target to hit.
Trade grade: B
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Big-picture: TSLA bounce continuation. Stock showing signs of reversal after a string of losing days and hitting 52 lows.
Entry: $120.55
Risk: Close below VWAP on 1min. $120.20
Target: Premarket High. $123.50
Exit: $122.67
Execution detail:
| Date/time | Symbol | Qty | Price | Position |
|---|---|---|---|---|
| 2022-12-30 09:32:45 | 30 DEC 22 121 CALL | 2 | $2.500 | 2 |
| 2022-12-30 09:34:15 | 30 DEC 22 121 CALL | -1 | $3.050 | 1 |
| 2022-12-30 09:34:15 | 30 DEC 22 121 CALL | -1 | $3.050 | 0 |
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