Shares traded: 600
Closed Gross P&L: $84.18
This was good trade. I waited for the consolidation to tip above the VWAP before taking a position.
However, I watched this consolidate and read the tape for a long time before I triggered on the confirmation that I was looking.
The trade here was entry at 55.71 and a stop at 55.68. As 55.70 held for almost and 45 minutes the risk became very well defined. This would have allowed a sizable position and a significant reward.
I am going to call this a flat line consolidation play. As I have worked this type of tight consolidation before with success in C and have seen this in a couple other stocks that I have watched during the day as well.
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