KR Trade on Mar 2, 2023 09:31 from kgauvin25: Tradervue User Stock Trades.

Market:
- So with a DOJI close yesterday, and a gap down this morning we are now trading below Last weeks range and have potential for breakaway gap to downside, but we are extended

- SPY and QQQ broke this range this morning, while IWM still has more room
- As long as stay below this range wanna press shorts, however with some daily extension I would not be surprised if we fake out and get back above
- SPY back above 405 short term bulls in control
- Above 402 bulls look better but still not clear
- B/W 2/24 Low and 402, not much direction but favor shorts
- Below 2/24 Low (393.64) ST Bear Trend Continues
- Below 390, Bigger Picture bulls lost
- Bias definitely to short side, but not to just press short at open, Ideally better to be patient off the open (w/ STT in greenzone) and see how market handles small time frame extension, ideal short is a grindy bounce back to 393 ish, with a 5min shooting star to get short
- Always keep in of potential bounce back and reclaim chop zone and 200 day ---> This ended up being the one

$KR
- Kroger - Consumer Staple/ Earnings beat, Rev In line, Guides Year Higher, paused share repurchase program to prioritize de leveraging/ ATR .8, AV 4.67/ Through 45.50, 2 ATR Extended, opening 67% ATR away from Daily Level
- To note here this was added to my WL very late, and so did not have time to do full analysis, but when pulled up chart I liked it better than the the earnings breakaway gaps I did have on my WL
- I noted 45.50 as a level, however $45 was the bigger level ---> Again I think if noted quicker I would have realized 45 was the better level
- Since market not in play for longs at all, the long ideas I had, had to be in play which this one was

Execution
- Off the open was opened very extended from 8 EMA
- So I knew if I take this trade, I have to be prepared for a shakeout and retry especially given context of market
- This was holding well and 45.50 was my level
- This was 50 cents risk, which for this name is a decent amount it but I liked the setup so took it anyways
- I could not get as much size as I wanted because of space risk, and needed to be able to retry if got shaken out (which is likely when we were this far from 8 EMA)
- Buy stop triggered at 45.50, and was long
- Got my 1:1 and stop in
- I was not planning to be greedy with this one based on where the market was
- I was too light to be able to do much trimming
- Ended up getting risk covered and wanted to trail remainder
- I was frustrated because I did not have enough tier size to be able to trim and potentially add back
- Ended up covering on the 46 break as market was rolling over at this point

Takeaway:
- This is not a momo name, 50 cents risk for a name like a consumer staple is not ideal
- So I mean look I fixed my problem of yesterday and even though wider space risk, this trade had lots of positive expectancy, and so I got in and was light enough to retry if shaken out
- The biggest thing was I could have gotten in earlier near $45 which was thee actual daily level
- I could have gotten a lot more size for like 10-15 cents risk vs 45 and still be able to get back in if shaken out
- So yes I took this trade regardless of wider space risk, however this was a real opportunity I could have caught a decent chop in by getting in earlier
- Solution:
- So its one thing to note how I should have executed better, but next thing is to propose a solution
- For this its simple
- When these breakaway gaps are opening near daily, look to get in off the open (size will depend on space risk and how far extended we are), get risk covered, and then can always add if there is another level
- Pratcice this multiple times when rewacthing trade film, as I have accumulated a good database so far of videos of these momentum drives on these earnings breakaway gaps