ORB setup. took profits on the first sign of the spike slowing down (the consolidation). then sold the rest at the entry price.
wondering what would have been a better stop price to sell the 2nd half of my position at?
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2014-08-26 09:42:56 | VII | buy | $4.630 | long |
2014-08-26 09:51:56 | VII | sell | $5.170 | long |
2014-08-26 10:15:41 | VII | sell | $4.630 | 0 |
OK, why so Nape? Is it because it took back the pole of the flag?
That was a pretty big red candle followed by an increase in sell volume. You always want an orderly pullback on light volume for the stock to hold up.
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First lower low as it was breaking under $5.