Play: Flag
Missed ORB on this one so waited for it to form a base. Once it did and volume came in, I got in for HOD test but it was struggling to break out even with volume and stop loss wasn't working so took the base hit and got stopped out on rest. Not the greatest trade but with stop loss not working, I was fearful of it dropping especially as it was prime to break out right away and didn't.
Reason to sell: Struggling to break out, time
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2014-11-11 10:14:51 | JRJC | buy | $7.740 | long |
2014-11-11 10:21:10 | JRJC | sell | $7.830 | long |
2014-11-11 10:21:58 | JRJC | sell | $7.730 | 0 |
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I like the idea on the 5min chart, but the daily chart was a bit stretch as it was peeking through the bollingerband.