RIVN Trade on Mar 27, 2023 09:50 from kgauvin25: Tradervue User Stock Trades.

Takeaways (1):
1. Wrong Daily Level: this was not daily level trigger

Market Summary:
- Indice misalignment continues
- QQQ trying to break 315 Res
- SPY trying to recapture 400 and this channel break
- IWM back into equilibrium with more room until 21 (space b/w 21 and 8 pretty wide rn)
- Keep in mind rn QQQ remains the strongest and if $SPY gets back above 400, longs are favorited until then could go either way
- With ST in upper hafl but still some r2 redzone we could seeing buying today but have to let the techicals prove it
- Decent gap up so might have to correct before occuring

$RIVN - auto - consumer

- No News, EVs strong this morning
- MC 13B, AV 32m, ATR 1, SI 9%
- 14 Clear Level, 0.4 ATR Ext, plenty of r2 Daily 21

- Layers:
- stronger than $LCID
- Tight inside 5 with 8 EMA catchup

- Negative Layers
- Daily not strong
- No catalyst
- not at daily level

- Thoughts
- Looks like I am gonna be chopped up
- Stronger, 8 EMA caught up to inside 5 low, 12 cents risk
- Key thing was this was before big daily level with no catalyst in daily weaker chart
- Kept loss smaller - Excellent job sizing

- Recap:
- Just really did not take into consideration how we were not at daily level yet and with these market conditions plus no catalyst really not ideal
- Good job choosing less size and noting rel strength as if these did work $RIVN was the strong one however $LCID had the catalyst
- While yes this was rel stong which is great $LCID was its daily level and $RIVN was not
- PLUS $LCID had catalyst and $RIVN did not