META Trade on Feb 27, 2023 09:47 from The_Trading_Apprentice: Tradervue User Stock Trades.

*DESCRIPTION:
Trade#: 2
Set#: Trading Error:supporttoprofit_Set01_03
Ticker: META
Strategy: ()ORBU (X)ORBD ()HODB ()LODB ()After Hours
Market Condition: ()Gapping Up ()Gapping Down (X)Consolidating
5-Minute ATR: ().50 (X)1 ()1.50 ()2
Beginning Position Size: 100
Entry: 171.54
Technical Stop: 9EMA
Hard Stop: 172.54
LRC Break: (X)Yes ()No ()In Between
Bollinger Bands Break: ()Yes ()No (X)In Between
Level1: 169.00 (X)DP()LRC()BB()MA | Level2: ()DP()LRC()BB()MA | Level3: ()DP()LRC()BB()MA | Level4: ()DP()LRC()BB()MA
Profit Target1(psy): 170.50 | Profit Target2(psy): 170.00 | Profit Target3(psy): | Profit Target4(psy):
Exit1: 171.73 | Exit2: | Exit3: | Exit4: | Exit5:

**What was the result of the trade, what happened? Loss. Market was consolidating at the time of entry. I took an ORBD trade at 171.54 with 100 shares when the price action broke the ORL with average volume. I set the 9EMA as technical support and a 1.00 hard stop based on the ATR of the previous 5-minute candle prior to entry. I had a daily pivot at 169.00. I set profit targets at 170.50 and 170.00. There was a lot of support in the way of profit targets including the premarket low. The price action missed my profit target by .01 and made a new LOD at 170.51 before reversing and breaking my technical support at the 9EMA with support.

*FEELINGS- Describe what you thought and felt during the trade? Unsure of taking this setup.

*EVALUATION- What was good or bad about the trade (what worked according to plan in the trade)? Good: The price action broke the ORL. Bad: There were too many support levels in the way of profit targets. The price missed my first stop by .01 and made a new LOD before reversing stopping me out.

*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)? This was a trade I should have avoided. There were too many support levels in the way of profit targets to make this a viable 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? Avoid setups with too many support levels and average volumes since mostly likely there will not be enough momentum to push through support levels.

*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 ()Go (X)No Go | Profit Targets/Stop Respected Without Fear (X)Go ()No Go