PYPL Trade on Feb 10, 2023 09:37 from The_Trading_Apprentice: Tradervue User Stock Trades.

*DESCRIPTION:
Trade#: 1
Set#: Trading Error:resistancetoprofit_Set01_05
Ticker: PYPL
Strategy: (X)ORBU ()ORBD ()HODB ()LODB
Market Condition: (X)Gapping Up ()Gapping Down ()Consolidating
5-Minute ATR: ().50 (X)1 ()1.50 ()2
Position Size: 50
Entry: 81.35
Technical Stop: Loss of the ORH with confirmation
Hard Stop: 80.35
LRC Break (after 10:00 am): ()Yes ()No ()In Between
Bollinger Bands Break (after 10:00 am): ()Yes ()No ()In Between
Target1: 82.50 (X)DP()LRC()BB()MA()PSY | Target2: 83.00 (X)DP()LRC()BB()MA()PSY | Target3: 84.51 (X)DP()LRC()BB()MA()PSY | Target4: ()DP()LRC()BB()MA()PSY
Exit1: 80.30 Exit2: Exit3: Exit4:

**What was the result of the trade, what happened? Loss. Market was gapping up at the time of entry. I entered an ORBU trade at 81.35 with 50 shares. I set profit targets at psychological levels 82.50 and 83.00. I had daily pivots at 82.12 and 84.51 so I had 82.12 as resistance. I also had the daily 200SMA in the way of profit targets. The price action made a new HOD and reversed fairly quickly stopping me out at my hard stop.

*FEELINGS- Describe what you thought and felt during the trade? Ready for the trading day.

*EVALUATION- What was good or bad about the trade (what worked according to plan in the trade)? Good: The price action broke the opening range high with above average volume. Bad: I had a daily pivot at 82.12 and the daily 200SMA in the way of profit target. The price action made a new HOD and quickly 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)? The setup was present, and I executed, but I had resistance along the way which should have given me pause to enter 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? If there are resistance levels in the path of taking profits, I should not enter a trade.

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

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