Until about noon 74 had been resistance. I entered when it bounced off this area with stop @ 73.87 (under previous bar). Took half off when it approached the 2:40 bounce hi of 74.83. Moved stop to 74.24 (a little above my entry) a little below VWAP.
When stock started to go sideways I rose stop at 3:27 to 74.38 (below the low of the bar I took partial on.
Further consolidation and end of day prompted me to raise my stop again at 3:46 to 74.58 (right under the ma’s)
It seemed like it was setting up to roll over, so maybe I shoulda been proactive and closed it, but let it take itself out.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2014-11-25 15:03:14 | QIHU | buy | $74.180 | long |
2014-11-25 15:19:19 | QIHU | sell | $74.780 | long |
2014-11-25 15:47:45 | QIHU | sell | $74.570 | 0 |
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