MSFT Trade on Nov 22, 2023 09:53 from Ihor_Horovenko: Tradervue User Stock Trades.

Thesis: Resistance block from Monday premarket remained in play also today after open. I was waiting for 2nd rejection from the block to show up with drying up volume reaching minimum during price discovery period. Despite RVOL was ±0.9 and $TICK + ADL indicated rising on open, I had an intention to open short after the whole market started to reverse. Initial rally ended pretty quickly with the same powerful momental reversing. The breakdown of VWAP was expected to be the main trigger for entry.

Stop: Placed my stop-loss above the VWAP breakdown bar.

Entry: I have entered position once the price closed significantly below the VWAP line.

Targets: for the targets I was planning to see 1to2-1to3 RR ratio.

Breakeven point: was set after 5 min from my entry. It is the minimum allowed time for this setup due to necessity of price to reverse and establish new downtrend which often come little later after breakdown, but in a sharp and aggressive first move.

Profit taking: reaching 377.00 level was one reason to take profit. When price accelerated in selling, additional profit was taken around 376.50 zone with adjustment of stop loss slightly above 377.00 level that price recently broke.

Comments: loading size on 2nd candle close after entry is absolutely crucial. If it shows increasing selling above average volume, this is even better.

Lessons: execute as move2move, not scalp.