GPS Trade on Nov 17, 2023 09:35 from Ihor_Horovenko: Tradervue User Stock Trades.

Thesis: Gap 18%+ after earnings report. RVOL 120+ in premarket at maximum. Thought about playing opening drive play in the first 5 minutes after open.

Stop: Placed my stop-loss below that big fatty 09:34 green candle.

Entry: I have entered position when 09:34 candle broke above the opening range and was still eligible for opening drive play based on 5m rule for breakout.

Targets: 1to3 was standard expectation for this trade + use of trailing stop loss after that.

Breakeven point: was set after being 2m in the trade. It is the standard practice I use.

Profit taking: -----

Comments: I had to think about re-entering the long position after the price started to consolidate above the 09:34 candle high. The breakout of this consolidation at 09:45 candle close would be an amazing continuation of the general move.

Lessons: Next time I should not reject the potential idea of keep watching stock when it started to consolidate during the opening drive play. I know that for an opening drive play it is the worst thing that can happen but at the same time it potentially provides another great possibility to make money.