Shared by
Mari_BOWS
Two trades, both losses.
First trade
Setup on daily: PR Breakout
Setup intraday: Day-long Consolidation
Reasons to enter: it was after 1 p.m, price was holding 9EMA and it looked like it was breaking out.
Concerns: possible price resistance on daily chart.
Stop: $20.93 ($0.15 from entry) - under 9EMA.
First target: $21.38 ($0.30 from entry) - just a realistic target.
R/R 2:1 - good!
Second trade:
Stop: $20.83 ($0.20 from entry) - under 9EMA and 20SMA.
First target: $21.43
R/R 2:1 - good!
It looks like I always try to catch the Day-long Consolidation breakout the moment it breaks out, but instead I get stopped out when it doesn't. I should try to enter this setup on dips. In this case I should've entered at around $20.70 during noon.
After these two attempts at a breakout I went short instead, but got stopped out as it was breaking out instead. Then I went long again and made a small profit.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2014-11-18 13:18:00 | SUNE | buy | $21.080 | long |
| 2014-11-18 13:24:00 | SUNE | sell | $20.960 | 0 |
| 2014-11-18 13:25:00 | SUNE | buy | $21.030 | long |
| 2014-11-18 13:37:00 | SUNE | sell | $20.820 | 0 |
Comments
Leave a comment about this trade!
You need to log into your Tradervue account to leave a comment. If you don't have one,
it takes
just a few seconds to sign up, and it's free!
Right idea. Definitely could have entered around 20.70 as that area was acting as support to avoid the choppy action.