BA Trade on Nov 13, 2023 10:08 from Ihor_Horovenko: Tradervue User Stock Trades.

Thesis: After Big Dog contraction breakout failed and price presented 3rd lower high that confirmed inability to pass and hold above premarket high, I was confident in waiting for the 3rd attempt of opening short position once the price closes below VWAP.

Stop: Above the breakdown candle.

Entry: I have entered position once the price closed 3rd time under VWAP. I did not want to get in inside the pattern as I still believed in the possibility of it working off. The risk would be greater for me + taking short above VWAP is not yet my style at the moment of writing this. I believe that with more experience and tape reading skills I will be able to do that!

Targets: contraction low and measured move of the contraction itself.

Breakeven point: was set after 2 minutes but not I consider it to be so fast. It should have taken into account the possibility of the first quick spike/pullback that stopped me out.

Comments: I like the fact that I have used premarket resistance as a way to justify my bias in the trade. I also liked my desire to re-enter the trade. It was basically identical trade to $RBLX that I have play-booked (did not take) on Wednesday 8th of November 2023. It could be played out much better but this the area to improve.

Lessons: Expect pullbacks. Maybe 2 minute rule is not so important for this trade. The faded candle that stopped me out initially was an actual confirmation of my thesis.