Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2014-06-17 11:35:00 | GWPH | buy | $87.500 | long |
2014-06-17 11:46:05 | GWPH | sell | $88.310 | long |
2014-06-17 11:58:23 | GWPH | sell | $89.000 | 0 |
2014-06-17 12:27:00 | GWPH | buy | $89.000 | long |
2014-06-17 12:32:47 | GWPH | sell | $89.000 | 0 |
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Another nice pick, since it already broke it's long-term price resistance at 85.0.
First trade was really nice. Great entry point, on confirmation (break of the flag). Scale-out point was excellent, and you picked the top almost perfectly.
For your second trade, I'd just say note that it failed to make a new high in the previous candle. This means it's a double-top, and likely to go down from there instead of up. This is one where I would probably have shorted it where you bought long - expecting a pullback from the double-top.
Final note: You entered your second trade during the lunch hour (12pm-1pm EST). As Kunal has said, most rallies and breakouts fail during lunch. The reason is really simple - breakouts and rallies require volume, and since most people are out to lunch during this time, there's usually not enough volume for a breakout or rally to happen. So in this case, you had that working against you as well.
During lunch, I usually either take a break, or look for short setups. There's sometimes not enough volume for big drops during lunch either, but slow prices fades during lunch are common, so shorts are usually safer plays than longs from about 11:45pm to about 1pm.