Morning gappper that broke above a resistance level on the daily. I entered way too early with not enough momo to the upside to enter long. What I am realizing in terms of ORBs is that after the second 5 min bar closes and it breaks in the direction of trend (up/down), there is a higher probability it will continue to run up.
If it breaks to the other side of the opening candle, the stock trends to trade in the opposite direction it opened with.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2014-12-04 09:43:20 | ARRY | buy | $4.680 | long |
2014-12-04 09:49:33 | ARRY | sell | $4.590 | 0 |
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