I waited a while for this trade to develop. There was good patience here. I still jumped a little early. The set up was better about 20 minutes later when the MA flattened out with VWAP in the 130. 50 range. This is close to a round number. Although, this stock did not seem to respect that number much.
This is a good set up, I understand what I am trying to do here and can set a good stop because of the time of day. The was played to have an opportunity to hold into the close. However, I needed to fight for price. I should have taken ½ off at the 131.40ish level and then put a stop in to trail at 131. I am working on using the MA as the stop once a profit is in and the trade has had an opportunity to play out.
I was thinking that this stock was to catch the MA and test 132 after the early momentum. As summary, entry was a little early and trade management still needs a lot of improvement.
This trade presented itself again very similar set up off of similar support and then ran into the close. I like this set up.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2019-04-22 12:23:25 | KMB | buy | $130.550 | long |
2019-04-22 12:23:25 | KMB | buy | $130.550 | long |
2019-04-22 13:22:14 | KMB | sell | $130.980 | 0 |
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