Got in after the 1,2,3 set up or higher low and decided to take profits as it moved up....could have held a little longer though
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2014-07-23 10:06:00 | XLNX | buy | $40.000 | long |
2014-07-23 10:20:00 | XLNX | sell | $40.360 | long |
2014-07-23 10:29:00 | XLNX | sell | $40.440 | long |
2014-07-23 10:32:00 | XLNX | sell | $40.680 | 0 |
I don't use emas or vwap at all anymore...those just cloud my judgement. what I saw was a higher low after a big move down. Yeah I managed to scale out this time...promised I would try today lol
the 1-2-3 though has nothing to do with the ma's, but I understand not using them anymore. I think Brahim tried that for a while. I guess what I am getting at is you entered at the high of the candle 3 candles earlier - was risky to do, as that very well could have been resistance. (it really should have been). But I do also see the "higher low" that you saw. Hmmmm, interesting trade. Woulda just scared me, that's all. Maybe this is your mastery trade!
oh yeah I know...1,2,3 is separate...what I mean is if I had seen the vwap I probably would not have taken this trade...but in terms of price action it was a go for me , confirmation of the higher low , I'm in!
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There wasn't really a 1-2-3 set up though. (One candle does not a 1-2-3 make). I'm glad it worked out for you - but I think this was a risky trade. you bought right below the VWAP, and it was bear flagging. I like your first exit, and I am very proud of your scaling exits! :-))