AAL Trade on Apr 13, 2023 10:47 from Dandres: Tradervue User Stock Trades.

Premarket
- Did not find this on the thinkorswim scanner, was found on the bear bull premarket live.
- News of rising fuel prices catalyst made stock drop.
- Was trading sort of near the VWAP, the written plan was that I would short if the level regain close to the VWAP with confirmation of resistance by the VWAP. I wanted to see the price movement at open to confirm certain loss levels.
- Calculated that at most share i could take were 400, but that it would be best to scale in.
- Planned to look at the 5 min chart with 1 min chart precise jump in.
- My profit targets were from the daily charts and I saw that from the VWAP to those target level, there was good R:W.
OPEN
- The first candle was large but then the second one was doji like. I missed the entire ride down from $13.01 -> $12.77. I couldnt find clear stop loss level and so i hesitated to jump in.
- Huge volume on the way down! Good indicator but still I didnt know where my stop loss would be.
- There was then a reversal bounce around the $12.70 mark that i didn't catch as support on the daily chart.
- After I missed the morning drop and double bottom reversal I thought that the only other way i would get in as if te stop showed resistance at the VWAP again for another minor reversal.
- That is what happened, I got in around a couple cents short from the VWAP with a stop slightly above VWAP. I was holding with hope that it would drop down to the low of day again.
- I saw that it had big bids that weren't getting completely bought up around the $12.90 mark and so I just took it all completely off the table.
Reflection
- I think I had good reasons for why not to get in during the early morning and for the reversal, its because I didnt know where my stop losses would be.
- Im glad I followed my plan and only got in when It was close to the VWAP because otherwise the risk or reward wouldn't have meant much.
- I saw the big bids at $12.90 on the LVL2 and so i saw that since we weren't punching past that that it probably wouldn't break, so i thought it best to free up my capital and elsewhere.
- I remember moving my stop loss to minimize the risk and so im very proud of that.
- What I could have done better was to find ALL daily res/sup levels because I might have been able to the closer one at $12.77.
- The big 5 min candle that overtook the previous 2 candles and engulfed them + made new lows, my entry could have been at the new low of $13. With 23 C profit target to $12.77 with 10C stop loss at the VWAP.
- Could have looked at the volume for confirmation because it was there!