META Trade on Feb 8, 2023 09:42 from The_Trading_Apprentice: Tradervue User Stock Trades.

*DESCRIPTION:
Trade#: 2
Set#: 5-minute ORBD_02_07
Ticker: META
Strategy: ()ORBU (X)ORBD ()HODB ()LODB
Market Condition: (X)Gapping Up ()Gapping Down ()Consolidating
5-Minute ATR: ().50 ()1 (X)1.50 ()2
Position Size: 50 (additional add at 186.67 with 50 shares)
Entry: 188.55
Technical Stop: ORL
Hard Stop: 190.05
LRC Break (after 10:00 am): ()Yes ()No ()In Between
Bollinger Bands Break (after 10:00 am): ()Yes ()No ()In Between
Target1: 187.50 ()DP()LRC()BB()MA(X)PSY | Target2: 187.00 ()DP()LRC()BB()MA(X)PSY | Target3: 186.50 ()DP()LRC()BB()MA(X)PSY | Target4: 183.10 (X)DP()LRC()BB()MA()PSY
Exit1: 187.23 Exit2: 187.5 Exit3: 185.92 Exit4: 185.08 Exit5: 183.92

**What was the result of the trade, what happened? Profit. The market was entering a consolidation phase. I took a ORBD trade at 188.50 with 50 shares when price action broke the premarket and opening range low with strong downward momentum. I set profit targets at 187.50, 187, and 186.50. I had a daily pivot at 183.10. I took a 2/3 partial and a 1/4 partial (my cover 1/2 hotkey was not working). I decided to add shares at 186.67 when the stock continue to fall and hold the 9EMA as resistance. Price action pulled back to the 9EMA but never broke it. I took profit near psychological levels at 185.95, 185.08, 183.92. Price action made a new LOD at 182.92.

*FEELINGS- Describe what you thought and felt during the trade? Feeling confident with my execution.

*EVALUATION- What was good or bad about the trade (what worked according to plan in the trade)? Good: The stock was gapping down in a parabolic fashion and broke the premarket and opening range high. The 9EMA was acting as resistance. Bad: Price action finally made a new LOD and 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)? One of best trades up to this point that followed my strategy and risk management plan.

*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 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