NVDA Trade on Feb 23, 2023 09:47 from The_Trading_Apprentice: Tradervue User Stock Trades.

*DESCRIPTION:
Trade#: 4
Set#: 5-minute ORBU_02_17
Ticker: NVDA
Strategy: (X)ORBU ()ORBD ()HODB ()LODB ()After Hours
Market Condition: (X)Gapping Up ()Gapping Down ()Consolidating
5-Minute ATR: ().50 ()1 ()1.50 (X)2
Beginning Position Size: 50
Entry: 237.82
Technical Stop: 9EMA
Hard Stop: 233.45
LRC Break: (X)Yes ()No ()In Between
Bollinger Bands Break: ()Yes ()No (X)In Between
Level1: 246.65 (X)DP()LRC()BB()MA | Level2: ()DP()LRC()BB()MA | Level3: ()DP()LRC()BB()MA | Level4: ()DP()LRC()BB()MA
Profit Target1(psy): 237.00 | Profit Target2(psy): 237.50 | Profit Target3(psy): 239.00| Profit Target4(psy):
Exit1: 237.00| Exit2: 236.12 | Exit3: | Exit4: | Exit5:

**What was the result of the trade, what happened? Loss. Market was gapping up at the time entry. $NVDA had reported earning yesterday after hours. I entered an ORBU trade at 235.45 with 50 shares when the price action broke the ORH and premarket high. I set a stop of 2.00 which was too low based on the 2.514 ATR of the previous 5-minute candle. I had a daily pivot of 246.65. I set profit targets at 237.00, 237.50, 238.00, and 239.00. There were no resistance levels in the way of profit targets. I took a 2/3 partial at 237.00. The price action pulled back to the 9EMA but did not lose support with confirmation. I added another 50 shares at that point. The price action made a new high at 238.88 but didn't reach my profit target of 239.00. The price action reversed and lost my technical stop at the 9EMA with confirmation at which point I exited my position.

*FEELINGS- Describe what you thought and felt during the trade? Felt reset and ready to continue looking for opportunities.

*EVALUATION- What was good or bad about the trade (what worked according to plan in the trade)? Good: The market was gapping up. The price action broke the ORH and premarket high. No resistance in the way of profit targets. Bad: I added shares when the price action was consolidating so it wasn't clear in what direction the price action was heading. The price action hit a new HOD and reversed eventually losing support at the 9EMA with confirmation.

*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 valid but adding without a clear direction of the price action and the loss of momentum was not a good decision.

*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? I will continue to take the setup, but I will make sure the conditions are appropriate for adding shares.

*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