TSLA Trade on Mar 6, 2023 09:35 from The_Trading_Apprentice: Tradervue User Stock Trades.

*DESCRIPTION
Trade#: 1
Set#: Trading Error:technicalstopnotrespected_Set01_09
Ticker: TSLA
Strategy: ()ORBU (X)ORBD ()HODB ()LODB ()After Hours
Market Condition: (X)Gapping Up ()Gapping Down ()Consolidating
5-Minute ATR: ().50 (X)1 ()1.50 ()2 ()2.50
Beginning Position Size:
Entry: 196.06
Technical Stop: Break of resistance of ORL with confirmation
Hard Stop: 197.06
LRC Break: ()Yes (X)No ()In Between
Bollinger Bands Break: ()Yes ()No (X)In Between
Level1: 191.78 (X)DP()LRC()BB()MA | Level2: ()DP()LRC()BB()MA | Level3: ()DP()LRC()BB()MA | Level4: ()DP()LRC()BB()MA
Profit Target1(psy): 194.00 | Profit Target2(psy): 194.50 | Profit Target3(psy): 194.00 | Profit Target4(psy):
Exit1: 196.75 | Exit2: | Exit3: | Exit4: | Exit5:

**What was the result of the trade, what happened? Loss. Market was gapping up at the time of entry. I took an ORBD trade at 196.06 with 25 shares when the price action broke the ORL with above average volume and momentum. The price action did not break the LRC and was in-between the Bollinger Bands. I set the break ORL with confirmation as my technical stop and a 1.00 hard stop based on the ATR of the 5-minute candle prior to entry. I had a daily pivot at 191.78 and I set my profit targets at 195.00, 194.50, 194.00. The price action quickly pulled back towards the premarket low and I decided to exit my position so that I can execute a better setup.

*FEELINGS- Describe what you thought and felt during the trade? Not feeling confident with the price action.

*EVALUATION- What was good or bad about the trade (what worked according to plan in the trade)? Good: The price action broke the ORL with volume and momentum. The price action was below all resistance and far from the daily pivot of 191.78. Bad: The price action became volatile and pulled back towards the premarket low.

*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 execute the setup, but the trade failed.

*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 practice excellent risk management.

*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 ()Go (X)No Go