CHWY Trade on Mar 23, 2023 12:04 from The_Trading_Apprentice: Tradervue User Stock Trades.

DESCRIPTION
Trade#: 3
Ticker: CHWY
Strategy: ()ORBU ()HODB ()ORBD ()LODB (X)Reversal ()After Hours
Market Condition: ()Gapping Up (X)Gapping Down ()Consolidating
5-Minute ATR: ().50 (X)1 ()1.50 ()2 ()2.50
Beginning Position Size: 100
Entry (AvgCost): 34.76
Technical Stop: 9EMA
Hard Stop: 35.76
LRC Break: 35.02
Bollinger Bands Break: 34.32
Level1: 32.01 (X)DP ()MA * Level2: ()DP ()MA * Level3: ()DP ()MA * Level4: ()DP ()MA
Profit Target1(psy): 33.00 * Profit Target2(psy): 32.00 * Profit Target3(psy): * Profit Target4(psy):
Exit1: 34.26 * Exit2: 34.30 * Exit3: * Exit4: * Exit5:

*What was the result of the trade, what happened? This was a profitable trade. The market was gapping down at the time of entry. I took a LODB trade at 34.76 with 100 shares when the price action reversed with rising volume. The LRC was at 35.02 and the Bollinger Bands was at 34.22. I set the break of the 9MEA with confirmation as my technical stop and a 1.00 hard stop based on the ATR of the 5-minute candle prior to entry. I had a daily pivot at 32.01. I set profit targets at 33.00 and 32.00. The price action made a new LOD then reversed. I took a 2/3 partial at 34.26 and scaled out the rest of my position at 34.30 when the market showed reversal signals confirmed by volume.

*FEELINGS- Describe what you thought and felt during the trade? Reset and ready to try again.

*EVALUATION- What was good or bad about the trade (what worked according to plan in the trade)? Good: The price action reversed with above average volume and momentum. Bad: I did not have 4 green candles to confirm a reversal setup. The price action made a new LOD then reversed.

*ANALYSIS- Does the trade make sense to you now that it is over? Yes.

*CONCLUSION- What is the final judgment of the trade (draw conclusions)? This was a second attempt to execute a reversal setup and I was able to take profit for a base hit.

*ACTION PLAN- How are you going to avoid the mistakes you made on this trade? How are you going to make sure you get the same results the next time if the trade was good? Continue to take the setup.

*TRADE MANAGEMENT: Strategy ()Go (X)No Go * Max Risk Per Trade Identified (X)Go ()No Go * Profit Targets Set (X)Go ()No Go

*TRADE EXECUTION: Entry (X)Go ()No Go * Profit Targets/Stop Respected Without Fear (X)Go ()No Go