PLTR Trade on Nov 30, 2020 09:47 from WuManChu: Tradervue User Stock Trades.

Idea, Entry, and Risk:

*Idea: Short after 29$+ retest and fail
*Entry: 29.10 and added under (near VWAP)
*Risk: 1:3 (Risk to previous high, around 29.60)

Catalyst and News:

Citron short carryover from Friday

Fundamentals:

N/A

Technicals:

Huge falloff on ATHs last Friday. Remained underneath VWAP for the entire day after the crack, and remained weak into the 29 retest after SSR triggered. Prepared for further falloff today.

Summation:

Fucking nailed it. Saw weakness after the 30 test and a huge influx of offers at the 29.60s retest. Took 10 at the 29.10s and waited for a second retest to see if it'd fail further, and was ready to cover otherwise.

Was fully prepared for the usual melt up but it just kept going down. Covered in pieces near some support at key levels, but once I got down to 5 shares, it just didn't show much sign of reversing. Took the final amount off after a clear bounce occured past the low 24s. Missed the chance to cover lower a few times but was already about 5R up at that point, so cant complain. Pretty nice win.

Takeaways:

Level 2 is hard to read on massive volume. But don't be intimidated and don't think you need to read it every second. It's training and it's a waste of time to overdo it when you're hitting eight figures of volume P/M. You'll get it over time.

Don't be intimidated by high volume and volatility. That's the kind of environment traders thrive in. Jump in the deep end, and just keep your risk in check.