TSLA Trade on Feb 27, 2023 09:36 from The_Trading_Apprentice: Tradervue User Stock Trades.

*DESCRIPTION:
Trade#: 1
Set#: 5-minute ORBU_02_1-18
Ticker: TSLA
Strategy: (X)ORBU ()ORBD ()HODB ()LODB ()After Hours
Market Condition: ()Gapping Up ()Gapping Down (X)Consolidating
5-Minute ATR: ().50 ()1 (X)1.50 ()2
Beginning Position Size:25
Entry: 204.58
Technical Stop: ORH
Hard Stop: 203.08
LRC Break: (X)Yes ()No ()In Between
Bollinger Bands Break: ()Yes ()No (X)In Between
Level1: 208.69 (X)DP()LRC()BB()MA | Level2: 214.00 (X)DP()LRC()BB()MA | Level3: ()DP()LRC()BB()MA | Level4: ()DP()LRC()BB()MA
Profit Target1(psy): 205.50 | Profit Target2(psy): 206.00 | Profit Target3(psy): | Profit Target4(psy):
Exit1: 204.29 | Exit2: | Exit3: | Exit4: | Exit5:

**What was the result of the trade, what happened? Loss. Market was consolidating. I entered an ORBU trade at 204.58 with 25 shares when the price action broke the ORH with volume and strong momentum. I set the loss of support with confirmation of the ORH as my technical stop and 1.50 hard stop based on the ATR of the previous 5-minute candle prior to entry. I had daily pivots at 208.69 and 214.00. I set profit targets at 205.50 and 206.00. The price action become volatile and choppy and broke support of the technical stop, so I decided to exit my position without confirming.

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

*EVALUATION- What was good or bad about the trade (what worked according to plan in the trade)? Good: The price broke the opening range with above average volume and momentum. There was no resistance in the way of profit targets. Bad: The price action become volatile and choppy and broke support of my technical stop.

*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)? I executed the setup, but the price action broke the support of my technical stop. I could have confirmed the break of the technical stop with a body candle confirmation and not just a wick confirmation since the price action went beyond my profit targets with strong above average volume and momentum.

*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? Evaluate using body candle confirmation for stops and not just wick confirmation.

*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