SCTY Trade on May 30, 2014 11:10 from Markmandy54: Tradervue User Stock Trades.

Daily at role reversal around 55. Short into VWAP rejection with stop -.10 over high for potential -.40 risk and target of +1 and +2.
Left for work with stop and limits in only to find got stopped to the penny on this.
LESSON: NEED A LITTLE BIT MORE WIGGLE ROOM, OR IF STOPPED AND ROLLS RIGHT BACK OVER, GET BACK IN!

Execution detail:

Date/time	Symbol	Side	Price	Position
2014-05-30 11:10:54	SCTY	sell	$54.480	short
2014-05-30 11:14:41	SCTY	buy	$54.820	0

#chart1 { background-image:url('/shared/charts/pricechart?symbol=SCTY&trade=1038483&end=20140530121241&i=m2&TimeRange=90&Volume=1&ChartType=candlestick&width=450&height=275');}

#chart2 { background-image:url('/shared/charts/pricechart?symbol=SCTY&trade=1038483&end=20140530134441&i=m5&TimeRange=90&Volume=1&ChartType=candlestick&width=450&height=275');}

#chart3 { background-image:url('/shared/charts/pricechart?symbol=SCTY&trade=1038483&end=20140530160000&i=m30&TimeRange=90&Volume=1&ChartType=candlestick&width=450&height=275');}

#chart4 { background-image:url('/shared/charts/pricechart?symbol=SCTY&trade=1038483&end=20140629&i=d&TimeRange=120&Volume=1&ChartType=candlestick&width=450&height=275');}

Comments

moneymatter49

2014-05-31 17:46:34

wrong setup or early buy as u want
your entry was on bull flag....extended but still bull flag....
as just said, u shouldn't take intraday trade if u haven't time

Markmandy54

2014-05-31 18:29:12

How was this a wrong setup? On my 2 min chart there was confirmation of the rejection of the 54.50ish area and on the 5 min was rolling as well off the rejection of the falling VWAP and MA. In my eye i hit it right, just had to tight of a stop. The congestion area was 54.70-55 therefore a stop of -.50 would have been better for the target of +1 and +2.
Thoughts? Thanks.

jmos_BOWS

2014-06-01 16:58:47

I had it on watch list for the same play on the daily. The only thing I would say is after 10:30, I would switch to the 5mns IMO especially if you are looking at a bigger picture of a setup. 2mns might give you many fake breakouts/breakdowns after 10:30-11 esp in this choppy market. But I really like the idea on this one!

Markmandy54

2014-06-01 18:46:19

Agree, man it was a killer setup, just a tad too early and a tad too tight of a stop!

SCTY Trade on May 30, 2014 11:10 from Markmandy54: Tradervue User Stock Trades.

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