BIDU Trade on Oct 19, 2015 10:46 from Holden: Tradervue User Stock Trades.

Dev play: MORNING-
Consolidation above ONH/Key R w confirmation, volume and change of character- BREAK OUT OF 60 MIN- BIDU
Research and information collection (what I was seeing and where I sourced the idea)
Chart work- Identified the 60 min consolidation near the highs of the range with price action respecting vwap.
Creativity and the generation of trading idea (my thought process for what could develop)
Detailed levels I would want to see price action hold above in order to look out for a break out continuation play.
More importantly I should have been focused on looking for a pullback to upper level support that holds for better r/r set up.
Entry execution and position management (Why did I take the play, why did I size as I did and what was my plan?)
Best entry would have been on the pull in to support at 149 early in the session.
With move higher and consolidation in the upper part of the trading range through the late morning I wanted for a defend risk opportunity (tight consolidation) and entered long as price action started to break higher testing above the consolidation high on multiple time frames.
This is where I begin to look for signs of a trend developing with an expected pullback to high that confirms and buying pressure supporting taking the action higher with momentum building through the move.
Risk management and exit execution (My plan for the play and my reasons2sell)
Risk management- Risk placed against 30 looking for the move higher and wanting to move stop up with move.
Initial stop was placed under tight consolidation (at 151) and then moved up to swing low of initial pullback and prior R at 151.5. As the trend began to develop in the name I was above to move stop up with the action.
Exit Execution -
Set target and let action get there not changing my target as I did not like the lack of real momentum building.
Self Management (Specifically self talk and did I support myself in a way that allowed me to execute to plan)
.Was not really great about staying focused with this position because of choppiness. Just did not ask enough of myself here.
Next steps:
Look for a consolidation at the highs. A consolidation at the highs may allow for a possible continuation trend move later in the session. This is best entered off a slam into upper level support where the action stops immediately at support and changes character right there. I want to enter long one tier against that support level looking for a move higher that consolidates then extends higher above R level and to new highs on the session with the potential for this to close on the highs of the day.
However, be very aware of the potential of a pullback as I am looking for that potential in the big picture today.