Wow, just so painfull to watch...
On main watch after great Day I, reclaiming significant $48.5 resistance.
Plan as follows:
a) BULLISH as long as it holds/trades above S1=$48.5 important level.
b) (P) 2nd day play
c) (S) Bullish bias - holding support or Support+Double Bottom bounce at S1
I was expecting a retest of S1 and hold above, before pushing higher to R1=$50.
Tried to pop at open, got rejected, rolled over to S1, tested the level, held above, bounced higher and reclaimed VWAP.
Entered Tier 0, risking below S1=$48.5, expecting the move to R1=$50...
But:
-- didn't like that the moment I got in, MU lost VWAP and started holding below...
-- that tape. That tape seemed weak to me, and the stock wasn't moving at all...
(-) I had small size, no reason to dis-respect proper technical stop below S1=$48.5 and cut the trade short. MAJOR MISTAKE!!
(-) I should have put an alert at HOD. At least have it on a 2ndary screen. I took it off completely.
Still can't believe I got out for a loss at this one. Brutal:/
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2020-06-04 09:38:44 | MU | buy | $48.940 | long |
2020-06-04 09:38:48 | MU | buy | $48.940 | long |
2020-06-04 09:40:12 | MU | sell | $48.790 | 0 |
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