Shared by
kentf_BOWS
Bought this when it looked like it was breaking it's consolidation range, but kept moving sideways till it flushed and stopped me out.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2014-07-29 13:50:37 | WIN | buy | $12.000 | long |
| 2014-07-29 14:22:29 | WIN | sell | $11.900 | 0 |
Comments
kentf_BOWS
Yeah that's a good point. I didn't really think of it that way. Thanks!
Wes_BOWS
It was a lesson I learned the hard way, I was WAY too focused on the intraday chart.
Now, I glance at the intraday for the setup, then back out the daily for confirmation. If it doesn't look pretty, I move on. Or, re-evaluate the approach.
It's surprising how many times the 'big picture' gives you a whole different view of what's happening in the stock.
I know what you mean. I need to start looking at the daily chart more when evaluating a stock.
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This stock had just had a major run up - the daily chart was showing a big run up, which most people expect a pullback..
It could have gone either way, but most people were looking for a pullback (short) play on this one I think.