Shared by
Driver42_BOWS
Bounce off 15min 20ma which was also 5min 20ma with 50ma in close attendance.
Also a trendline break of the days highs
Gapped up 5% this morning on earnings.
Struggled so much and began to consolidate around my entry, worked its way under the mas.
Next time I looked at it I could not believe how I saw a long trade in it as it had been setting lower highs all day with a constant area of lows.
I reversed my position taking a small loss to the long side.
More struggling until finally stopped out at end of day due to me bringing my stop in closer so that I didn't take too big a loss if it went against me. Could have gotten out with a very small profit a couple of times but each time that happened I thought I might get more until it turned on me again.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2015-02-12 13:33:29 | NVDA | buy | $22.320 | long |
| 2015-02-12 15:10:00 | NVDA | sell | $22.230 | short |
| 2015-02-12 15:59:49 | NVDA | buy | $22.297 | 0 |
Comments
Driver42_BOWS
I know exactly what you mean Mari.
In fact I have resolved today to draw more lines on my intraday charts with an extension to the right so that next time I look at it I can see if there is a possible trade coming up.
Thanks for your comments.
Emilie_BOWS
I also saw this stock on my scanner but noticed that it had +500M float. Day long consolidation isn't a high probability setup for thick stocks like this one. They often just gap up at the open then sit there doing nothing for the day or move very slowly or choppy.
kunal00
giant float hard to hit on strength need the dips
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I used to get faked out a lot when I focused on MA-s too much and tried to catch breakouts. I started doing better when I started drawing support and resistance lines on the chart and paying attention to them, trying to buy close to the support level instead of buying when I thought it was breaking out. Maybe it could help you too.