ORCL Trade on Jun 13, 2023 09:49 from The_Trading_Apprentice: Tradervue User Stock Trades.

Description:

Trade#: 1. Ticker: ORCL. The market was gapping down at the time of entry. I took a continuation trade at 120.52 with 50 shares when the price action took out the LOD and premarket low with volume flat on the 2-minute chart. I set taking out the PML with confirmation as my technical stop and a 1.50 hard stop based on the ATR of the 5-minute candle prior to entry. The price action was below the LRC and above the BBs. I had a level at 117.51. I had significant area of liquidity on Bookmap at 120.00. I set my 1st profit target at 119.50.

Additional notes: $ORCL reported earnings yesterday after the market close.

*What was the result of the trade, what happened? This was a profitable trade. The price action gapped down, and I took a 2/3 at 120.00 which was a psychological level and area of liquidity on Bookmap. I scaled out the rest of my shares at 119.20 when the price action came near the 200SMA on the 5-minute chart which was acting as support.

*FEELINGS- Describe what you thought and felt during the trade? Felt relaxed and ready during the trade.

*EVALUATION- What was good or bad about the trade (what worked according to plan in the trade)? Good: The price action broke through LOD and PML. Bad: The 200SMA was acting as support on the 5-minute chart.

*ANALYSIS- Does the trade make sense to you now that it is over? Yes, it was a good setup that I was able to execute and take profit.

*CONCLUSION- What is the final judgment of the trade (draw conclusions)? I enjoy taking this trade since I followed the rules of the strategy including respecting areas of support.

*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 execute the setup and practice excellent trade management.

*TRADE MANAGEMENT: Strategy (X)Go ()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 (X)Go ()No Go