TSLA Trade on Dec 28, 2023 09:32 from Dandres: Tradervue User Stock Trades.

One of those stocks that you watch

Open
- Watching TSLA at the open, the price action was coming to the upside but I wanted to see it sustain to a certain direction. Plan was to trade either the break away from the VWAP or the break down to yesterday's levels. Watched the price action level out and took a first entry to the downside. Following candle opened to maker a lower low. The price action on the following candle retracted and broke up above the VWAP with strong volume. Stopped myself out bc I was about 30c above the VWAP and I felt the best area to stop out was right above the VWAP. Unluckily the price action DID break down again and drop to the bottom of the opening candle range. Small loss.
Reflection
- 3 indicators? yes, first entry called for.
- Scaling? Yes, additional entry on the following candle that broke down further + volume.
- Partials? no.
- Risk management? Out on the break above VWAP on strong volume.
- What went right/wrong? Trade idea was valid, trade execution was valid too. I believe that stopping out was the right idea at the time because the price action was seemingly strong to the downside but then had retracted 1 point from my second entry, wasn't exactly convincing of the downside continuation and could have easily been a short squeeze.
- Successful trade? Yes, plan in place, trade execution was fine, stopped out on lvl 2 looking strong to the upside.