ORCL Trade on Jun 14, 2023 09:44 from The_Trading_Apprentice: Tradervue User Stock Trades.

Description:

Trade#: 1. Ticker: ORCL. The market was gapping up at the time of entry. I took a ORBU trade at 117.85 with 50 shares when the price action took out the ORH with volume rising on the 2-minute chart. I set taking out the ORH 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 level at 123.99 (DP). I had significant areas of liquidity on Bookmap at 119.50 and 120.00. I set my 1st profit target at 118.85.

*What was the result of the trade, what happened? This was a profitable trade. The price action gapped up and I took a 2/3 partial at 118.85. The price action continued to gap up after a pullback and I scaled out my position at 120.00 which was a large area of liquidity on Bookmap.

*FEELINGS- Describe what you thought and felt during the trade? Fely ready and relaxed.

*EVALUATION- What was good or bad about the trade (what worked according to plan in the trade)? Good: The price action broker the ORH with rising volume. Bad: I traded into the 200SMA. There was room for profit taking at higher price levels which I did not take advantage of.

*ANALYSIS- Does the trade make sense to you now that it is over? Yes. It was a good setup that I was able to execute and take profit.

*CONCLUSION- What is the final judgment of the trade (draw conclusions)? Good execution but I traded into resistance at the 200SMA.

*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? I will zoom out my charts to ensure that I do not miss any levels that might be in the way of profit targets.

*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 (X)Go ()No Go