OCTO Trade on Apr 6, 2023 07:22 from BanalityOfEvil: Tradervue User Stock Trades.

Play
Technical Scalp

Catalyst
Technical setup, getting volume in premarket. Testing 2.50, low float, recent reverse split.

Trade Idea
Price could touch 2.80 in the next few minutes

Setup Quality
C

• premarket is not showing a lot of long opportunity, market looks like it may have a weak open
• no news catalyst
• some volume expansion coming in to test 2.50

Plan

• look to scalp the break of 2.50 sell at any sign of weakness, targeting 2.80
• ok to buy vwap test if does not break 2.50 immediately
• stop is break and hold below vwap/price cannot reclaim vwap quickly/no volume comes in after vwap broken

Reasons to Sell
Target hit
stopped out
tape weak
large seller wont lift

Executions and Price Action
followed plan, offering and bidding for price on pullbacks, waiting for the the break. Made a nice profit but let it go against me too much and did not exit. I decided to exit position early at HOD because volume profile had turned negative, price weakened, and there was no "real" catalyst to begin with.

Key Takeaways

• Price did end up hitting original target, but price was extremely weak
• This trade felt impulsive and I regret taking it. I am not a fan of technical only setups.
• If loss was taken I would have regretted entering this trade.
• Felt rushed to trade because I will be pulled away from desk before market opens and wanted to squeeze one in.
• Poor risk management

Multiple Timeframes

After exiting price moved to target, volume profile remains negative, very choppy