META Trade on Feb 3, 2023 09:35 from The_Trading_Apprentice: Tradervue User Stock Trades.

*DESCRIPTION:
Trade#: 1
Set#: 5-minute ORBU_02_10
Ticker: META
Strategy: (X)ORBU ()ORBD ()HODB ()LODB
Market Condition: (X)Gapping Up ()Gapping Down ()Consolidating
5-Minute ATR: ().50 ()1 ()1.50 (X)2
Position Size: 50
Entry: 188.27
Technical Stop: ORH
Hard Stop: 186.27
LRC Break (after 10:00 am): ()Yes ()No ()In Between
Bollinger Bands Break (after 10:00 am): ()Yes ()No ()In Between
Target1: 189.50 ()DP()LRC()BB()MA(X)PSY | Target2: 190 ()DP()LRC()BB()MA(X)PSY | Target3: 191 ()DP()LRC()BB()MA(X)PSY | Target4: 191.50 ()DP()LRC()BB()MA(X)PSY
Exit1: 191.37 Exit2: 194.50 Exit3: 195.95 Exit4:

**What was the result of the trade, what happened? Profit. Market was gapping up strongly at the market open. $META continued its strong upward momentum after reporting earnings two days ago. I entered a trade at 188.27 with 50 shares when price action broke the premarket and opening range high. I set profit targets at 189.50, 190.00, 191.00, and 192.00 which were psychological levels. I had daily pivots at 191.06 and 202.03. I took a 2/3 partial at 191.37 and set my stop to breakeven. I took another 1/2 partial at 194.5 and scaled out the rest of my shares at 195.95. I was patient with profit taking since the stock was gapping strong with above average volume.

*FEELINGS- Describe what you thought and felt during the trade? Feeling good with the way I execute and managed this trade.

*EVALUATION- What was good or bad about the trade (what worked according to plan in the trade)? Good: Overall market was gapping up strong. Price action broke the premarket and opening range high. I read the chart well for entry and profit taking. Bad: Price action made a new HOD and then reversed.

*ANALYSIS- Does the trade make sense to you now that it is over? Yes.

*CONCLUSION- What is the final judgment of the trade (draw conclusions)? This was one of my best profit taking trade since early December of last year. I felt good with how I executed and managed this trade.

*ACTION PLAN- How are you going to avoid the mistakes you made on this trade? How are you going to make sure you get the same results the next time if the trade was good? Continue to take the setup when presented and practice excellent risk management.

*TRADE MANAGEMENT: Strategy (X)Go ()No Go | Risk Identified (X)Go ()No Go | Profit Targets (X)Go ()No Go

*TRADE EXECUTION: Entry (X)Go ()No Go | Profit Targets/Stop Respected (X)Go ()No Go