MNGA Trade on Aug 11, 2014 09:31 from firesky_BOWS: Tradervue User Stock Trades.

LONG SWING TRADE: It seemed like the price was resting on trend support of a triangle formation. Buying volume was slightly higher than selling volume over the previous 6 days, and volume in general was well below average. Stochastics also pointed to an oversold condition with a value of 16. I bought in at $1.33 which was the market price at open. My stop was set at $1.27 which was below the trend support line and below the previous daily low of $1.30. My first target was $1.49 (the top of the triangle) and my second target was $1.83 (daily chart high on 6/3/2014). This comes out to a 2.7 R/R for the first target.

Immediately upon open, my buy order executed. However the stock continued to freefall and fell right through my stop and more just a few minutes later.

One thing I didn't notice before was that all of my SMAs were above the price -- potential resistance. Even though they weren't IMMEDIATELY above the price, they were all starting to wrap downwards. Hopefully that sticks in my mind in future trades.