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handycandi_BOWS
Has been flagging on daily chart since 29 July; broke today, so I was watching for any intraday setup over $120.63. Looked like it was breaking flag at 10:40, so I bought, setting a stop just below the top of the flag at $121.36. I stopped out. Either I mis-drew my trendline slightly and jumped the gun, or there were too many little flags in a row, but I kind of think it was the series of flags.
Re-drew trendline, and it broke flag again at 11:00, but I wasn't sure until it fell a little and bounced off 9SMA as well, which is when I bought again, with stop just below 9SMA, and target at $122.00, just below recent high of $122.13. It hit target, so I sold half, and kept my stop under the 9SMA because it was higher than my buy price and the 9SMA was still pointing upward, and set my next target to the recent high. Sold when 9SMA started pointing downward, which is on my reasons to sell list.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2014-08-13 10:51:11 | PCYC | buy | $121.580 | long |
| 2014-08-13 10:58:35 | PCYC | sell | $121.360 | 0 |
| 2014-08-13 11:07:55 | PCYC | buy | $121.490 | long |
| 2014-08-13 11:15:22 | PCYC | sell | $122.010 | long |
| 2014-08-13 11:22:33 | PCYC | sell | $121.920 | 0 |
Comments
kunal00
that first pullback ur entry is super dangerous.. there is no setup there.. just because u see 1 red cnadle doenst mean its a pullback..
u need to trade setups.......its too quick what ur drawing often
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I had this on watch also for a break of 121 on the daily but got side tracked and missed it. i thought your entry was perfect but i would have put my stop under 121