TSLA Trade on May 31, 2023 09:52 from Trader_DK88-Andrew_BOWS: Tradervue User Stock Trades.

Improvements:

  1. Failed ORB-fader trade that has the confluences of the EMA's being lost and the loss of the daily VWAP.
  2. The stock put in an opening range on the first 5-mins.
  3. The stock failed to push through the Opening range and had showed signs of topping.
  4. The stock's price action had printed an exhaustion candle on the 5-min timeframe and was showing it was stalling and potentially going to roll back over into the opening range.
  5. I took a position short with a stop above the exhaustion candle. Price target was a 2R trade.
  6. In review of the trade, the stop was set conservatively which meant the size was smaller on the trade.
  7. I the stop was set above the entry candle on the 5-min timeframe this would have been more aggressive and allowed much more size.
  8. Showed good discipline in holding the trade through the consolidation at the 200-level.
  9. Here it was tempting to think the stock would bounce, however, stayed with the plan for the profit target.
  10. The profit target was reasonable as it had rolled over 4-points. Which was 50% of its daily ATR.
  11. I had noticed the stock accelerated down into the profit target which was a clear sign momentum and volume was pouring into it and I should have pushed the profit target down further, while moving the stop in behind the price action.

Notes:

  • Overall a really strong trade with a solid outcome.
  • A tighter stop would have allowed for more size, while still in an appropriate location
  • When price action accelerates toward profit target, think of pushing it out and throttle behind it with the stop order

Actions:

Trade Technical variables:-

ATR: 9.38
Rvol: 1.18
AVol: 120.8M
Beta: 2.56
Short: 3.60%
Float: 2.64B
Ins. Own: 44.80%
WIC: Buyers (short term), Buyers (mid term)
VWAP: Below (Daily), Above (2Day)


Execution detail:

Date/time Symbol Side Price Position
2023-05-31 09:52:47 TSLA sell $201.350 short
2023-05-31 10:15:35 TSLA buy $197.990 0


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