LONG SWING TRADE: Beautiful bull flag set-up on both daily and 30min charts. Outside of the heavier selling volume, things look good with the stochastics at 79 just barely under what I consider to be overbought and the MACD settling down. Stop placed below the flag at $31.95 with a target of $33.85. That gives an R/R of 2.8.
9/3/2014: Hit target so sold half of position. Also moved stop up to $33.59 as I'm not entirely liking the high stochastics and non-increasing volume.
9/5/2014: Popped in the morning and I didn't want to let go of some of those profits so I moved my stop up to $35.10 and it eventually hit that later in the afternoon.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2014-08-25 09:31:00 | LEAF | buy | $32.450 | long |
2014-09-03 10:37:00 | LEAF | sell | $33.850 | long |
2014-09-05 13:08:00 | LEAF | sell | $35.100 | 0 |
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Really good entry.