ACHN Trade on Dec 3, 2014 14:45 from jmos_BOWS: Tradervue User Stock Trades.

PLAY: Flag/day long consolidation

Strong open, good volume pattern, looked great on the 30mns chart, volume was coming in so had to take it. Never went anywhere. Kept a tight stop as I expected something fairly fast thinking momentum would come in. Never did and got stopped out on 9ema crack. Stop was too tight, no reason to have it this tight as support is at 13.6.
I keep making that mistake that a triple tap/day long consolidation, I expect something quick but it might have a shake out before the rip..important to be patient

Reasons to sell: stop too tight

Execution detail:

Date/time	Symbol	Side	Price	Position
2014-12-03 14:45:17	ACHN	buy	$13.730	long
2014-12-03 14:51:32	ACHN	sell	$13.660	0

#chart1 { background-image:url('/shared/charts/pricechart?symbol=ACHN&trade=1597819&end=20150102&i=d&TimeRange=120&Volume=1&ChartType=candlestick&width=450&height=275');}

#chart2 { background-image:url('/shared/charts/pricechart?symbol=ACHN&trade=1597819&end=20141203160000&i=m5&TimeRange=90&Volume=1&ChartType=candlestick&width=450&height=275');}

#chart3 { background-image:url('/shared/charts/pricechart?symbol=ACHN&trade=1597819&end=20141203151932&i=m1&TimeRange=90&Volume=1&ChartType=candlestick&width=450&height=275');}

Comments

Nape_BOWS

2014-12-03 16:32:52

You bought right after that big green candle which is a chase.
Idea entry is here..http://screencast.com/t/hHMTvvMZRONL

Markmandy54

2014-12-03 17:17:45

Looks like you bought right at resistance (which figured that many tests would break through) but until it does it's resistance. My suggestion is take partial if you must, and add to full on B/O confirmation or the P/B

jmos_BOWS

2014-12-03 18:39:34

You guys are both right but knowing how I like to enter, I don't think I would have entered where you said Nape (not enough confidence to enter bc I like to see volume first) there and seeing it tapped 13.7 three times (third at my entry), it is logical that it doesn't rip through the resistance as (per its name) it is resistance so some small pb is natural price action and hence need to respect the stop loss.

If it were to pb to 13.6, then it would most likely be a failed break out. That is definitely a good idea Mark. I need to put that in my plan but tough to change habits.

Nape_BOWS

2014-12-03 21:12:35

Yep definitely agree with you guys. If you miss the idea entry. It is always in your best interest to wait for an orderly pullback giving you confirmation that the move is real.

ACHN Trade on Dec 3, 2014 14:45 from jmos_BOWS: Tradervue User Stock Trades.

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