WMT Trade on Feb 21, 2023 09:35 from The_Trading_Apprentice: Tradervue User Stock Trades.

*DESCRIPTION:
Trade#: 1
Set#: 5-minute ORBU_02_16 | Trading Error:resistancetoprofit_Set01_10
Ticker: WMT
Strategy: (X)ORBU ()ORBD ()HODB ()LODB ()After Hours
Market Condition: (X)Gapping Up ()Gapping Down ()Consolidating
5-Minute ATR: ().50 ()1 (X)1.50 ()2
Beginning Position Size: 50
Entry: 144.79
Technical Stop: ORH
Hard Stop: 143.29
LRC Break: ()Yes (X)No ()In Between
Bollinger Bands Break: ()Yes ()No (X)In Between
Level1: 146.63 (X)DP()LRC()BB()MA | Level2: 147.88 (X)DP()LRC()BB()MA | Level3: 150.32 (X)DP()LRC()BB()MA | Level4: 148.6 ()DP(X)LRC()BB()MA
Profit Target1(psy): 146.00 | Profit Target2(psy): 146.50 | Profit Target3(psy): 147.00 | Profit Target4(psy): 148.25
Exit1: 146.00 | Exit2: 146.50 | Exit3: 147.71 | Exit4: 146.77 | Exit5:

**What was the result of the trade, what happened? Profit. Market was gapping up at time of entry. I entered an ORBU trade with 50 shares at 144.79 when the price action broke the ORH with strong volume and momentum to push through 5-minute 200SMA. I set a 1.50 stop based on the 5-minute ATR at 143.29. My technical stop was the ORH which was changed to the 9EMA when the price action continued to gap up. I had daily pivots at 146.63, 147.88, and 150.32. The LRC level was at 148.6. I did have PCL and daily pivots in the way of profit targets. I set profit targets at 146.00, 146.50, and 148.25. The price action started to consolidate along the 5-minute 200SMA and pulled back to the ORH and 9EMA but did not confirm to stop me out. I added 50 shares when the price action bounced off the 9EMA and took a 2/3 partial at 146.00. I took another 1/2 partial at 146.50. The price action made a new HOD at 148.34 before pulling back to the 9EMA at which point I add 100 shares since the 9EMA became my new technical stop based on my chart reading. The price action continued its upward trend, and I took a 2/3 partial at 147.61 near a daily pivot. I was stopped out at breakeven.

*FEELINGS- Describe what you thought and felt during the trade? Calm and ready to execute.

*EVALUATION- What was good or bad about the trade (what worked according to plan in the trade)? Good: $WMT reported strong earnings. The market was gapping up. The price action broke the ORH with above average volume and momentum. Bad: I had the 5-minute 200SMA, pivots, levels, and PCL in the way of profit targets. I meant to enter 66 shares based on my risk per trade and 5-minute ATR, but I entered 50 shares. The price action consolidated and lost momentum continuing to stay flat for the rest of the trading session.

*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)? Even though there were resistance in the way of profit targets, I took the trade based on strong volume which pushed the price action through resistance. I had some issues setting a limit order for profit taking.

*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 watch for levels in the way of profit target.

*TRADE MANAGEMENT: Strategy (X)Go ()No Go | Max Risk Per Trade Identified (X)Go ()No Go | Profit Targets Set (X)Go ()No Go

*TRADE EXECUTION: Entry (X)Go ()No Go | Profit Targets/Stop Respected Without Fear (X)Go ()No Go