Market opened on breakout of yesterday's 90 minute trading range into the close, 3 bar bull spike looked to be a trend from the open bull trend which meant the market was always-in long and that turned into a breakout pullback buy set up, which turned into a spike and channel. The market usually retest the bottom of the channel.
Due to size of spike, placing the stop loss at the bottom would have been too much risk for size, and adjusted stop loss to the middle of the breakaway gap, which was also the high of yesterday's final bar.
Stop was adjusted after 1st and 2nd bull flags. Booked trade at new high, however, with no real reason2sell, could have held trade to measured move off open.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2019-04-24 09:49:08 | STNE | buy | $25.960 | long |
2019-04-24 11:26:56 | STNE | sell | $26.400 | 0 |
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