Shared by
jmos_BOWS
PLAY: Flag
It was a bit overextended at that point but it looked very strong, had a lot of shorts in it and really liked the price action, got in on the break of trendline for a quick scalp as it was pretty extended and sold into spikes. Got stopped out on last shares at buy price. Stopped me out right before running like I wanted it to. Damn! Still working on leaving room for my last shares to run when I buy high.
Reasons to sell: spikes, buy price
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2014-11-25 15:15:39 | LAKE | buy | $13.190 | long |
| 2014-11-25 15:18:20 | LAKE | sell | $13.340 | long |
| 2014-11-25 15:31:47 | LAKE | sell | $13.440 | long |
| 2014-11-25 15:37:53 | LAKE | sell | $13.200 | 0 |
Comments
tombro
Guys, help me out here cuz i'm trying to get better ID'ing trade setups. This This looks like a flat top breakout, not a flag or a pullback (unless Nape, you're referring to the pullback at 2:50-55pm), right after which was the flag entry at 3pm-ish?....
I guess the more I look at this...for a flag, is the 3pm bar the pole and the 3:05-10 bars the flag?
Help me out here.
jmos_BOWS
The way i see it is the flag pole that runs frrom 12 to 13.25. Then it consolidates, tries to break out of a trendline but never cracks which means buyers are holding up and the price action was strong. It is not the greatest as it was already extended so i took for a quick one.
So was the ideal entry during the 3pm bar, when the little flag brokeout to the upside?
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You had it.. that pullback was right into the ema's. Never broke support.