No Setup. Not a chart I should be trading. Messy on the 5 minute with lots of resistance in this area on the daily (which is probably why the 5 minute is so messy.
Partially suckered in by it moving back above it's MA which were starting to curl up. I need to see the overall picture
Stop 77.72, First Target (in my dreams)78.42
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2014-12-15 11:51:12 | KORS | buy | $77.850 | long |
2014-12-15 11:55:08 | KORS | sell | $77.720 | 0 |
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I actually like the idea here, but the candles are not tight and coiled up. With the candles being so loose and messy it will make the stock chop around lot. Look back at your $GPRO trade and notice how tight and clean the intraday pattern was for a short.