LONG SWING POSITION: There's been a bull flag in the making here starting on 7/30. The stochastics aren't too overbought considering. Also, green volume days in the flag have been larger than the red days. So, I've bought in as near to the base of the flag as I could at $7.04. My stop is at $6.90 which is below the flag base and below the 50/100day SMAs. My first target is just under the high of the bull flag at $7.35. This gives me an R/R of 2.2.
8/14/2014: The pattern broke down yesterday as price broke the flag support, so I got out first thing in the morning. You probably could say the flag breakout already occurred on 8/11 although it didn't spike up too much.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2014-08-12 13:33:00 | INAP | buy | $7.040 | long |
2014-08-14 09:31:00 | INAP | sell | $6.960 | 0 |
You need to log into your Tradervue account to leave a comment. If you don't have one,
it takes
just a few seconds to sign up, and it's free!