GOOGL Trade on Apr 5, 2023 09:45 from kgauvin25: Tradervue User Stock Trades.

INSIDE 5 SETUP NEVER TRIGGERED ---> I Upticked in By accident

Market Summary:
- With flat overnight sessions, now today looks a little more like coin toss about where we could go
- IWM still the weakest indice and the big pic b/w QQQ and IWM remains massive
- Because of that names in play become a lot more important
- News
- ADP 145k vs 210k Exp and 242k previous ---> Big miss (maybe signal tight job market fading a bit), bigger number is jobs number this Friday in which the market is closed
- In tough spot on daily and so really 50/50 which is why names in play and rel strength/weakness become crucial
- $CAG was clearly in play with very good earnings report
- So seeing how these first bars are all red, this name is purely in play and so for this setup alone the market candles do not really mean much

$GOOGL
AI piece better than NVDA
MC 1.3T, ATR 2.7, AV 40m, Beta 1
$106 Daily Level extended though so needs clear ID rel strength and setup

What happened
As IWM and SPY were trying to pivot QQQ was stil falling
On this 9:45 bar GOOGL starts holding up showing rel strength to IWM and SPY
Begins to form inside 5 and I like this
We have rel strength compared to QQQ
8 EMA has caught up to this inside 5
Daily strong momo name
We have a catalyst with the artificial intelligence news
Once candle closes I decide this is worth it an decide ot put my buy stop in at inside 5 highs
I accidently upticked in and now was in the stock
I decided to just keep it as normal with stop at lows of this doji
Got stopped out for very small loss
Very good setup just never triggered

What was going on with Indices at this point in time?
So we can see sow QQQs are the weakest of the the indices
By this point should be focused on energy names ($VLO, $MPC) that I discussed in a different review
However notice $GOOGL is a lil stronger than the market
Should be checking other tech names
But so now we have some layers
Rel strong to QQQ
Inside 5 forms with 8 EMA catchup
Have positive news with AI being better than NVDAs piece
Strong daily a lil extended but this a momo name
Looks good and just never triggers
Next marobuzo candle that takes this out just takes away all possible momo