Shared by
silverholden
Picked this up while going through my lists intraday. Saw it coming off lows, and breaking through MA's and VWAP. Bought as it pushed through. Target was originally 36.00, but I got greedy and moved it to 36.50. Never quite got there, exited as it was falling back down. Made a little, but basically this was a failed trade.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2014-09-17 12:50:50 | RWLK | buy | $34.470 | long |
| 2014-09-17 12:51:02 | RWLK | buy | $34.470 | long |
| 2014-09-17 13:23:57 | RWLK | sell | $35.000 | 0 |
Comments
silverholden
That entry was based on the relative power of the previous two candles breaking through the 20 and 9 EMA, and it was trying to get through the VWAP (34.47) which also happened to be a triple tap at that price point intraday. Initially I had a sell order at 36.00 based on whole number resistance and the wick on the third 5 minute candle of the day. I got greedy and moved it to 36.50 by rationalizing that it was just below the bottom of the EOD range from the day before on the 5 minute. That was stupid, it only got to 36.40.
Oh and reason for pullback entry, it was sitting on the VWAP. If I had seen this a few minutes earlier, I may have made an anticipatory entry below the VWAP with a stop under the two MA's.
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Nice entry. May I ask you, when you enter on this small pullback, what is the reasoning. Sometimes, I will miss the first spike but it will stall at previous resistance (like in this case) and I will hesitate to enter on the small pullback which often can actually give a better entry price. But when I see it pullback, I'm thinking it will go back down.