Shared by
tombro
I would have gotten a better price if I had been more patient with entry
Setup: Day long consolidation (consolidation started yesterday)
SLXP finally broke above yesterday’s day long consolidation, I entered when it came back down to the high of that consolidation(the breakout).
Where are EMA's: EMA's are too far below, I shoulda been more patient ALTHO ema's may have been closer on TOS
EMA's-Direction & details: both up, but shoulda waited for price to get closer to ema's
Time Frame Alignment: it is in it’s gap area from it’s Nov. earnings & guidance, but on top of the 110 consolation area. Also has gapped over flag area formed after yesterdays gap up
Volume: i think good
Market action-Spy-Sectors-stock: Stock recovering from earnings gap down
Stop: Stop 110.29 moved to 110.69 at 8:20
Target: 1ST TARGET 113.95
R/R:123/243
Are Stop/Target proper: 1st target seems far- did I manage this manually???
Reasons for exits:2nd exit was "exit by neglect". Better = breakdown of 2pm flag, CLOSED 114.45 at EOD
11150/15
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2014-12-17 10:50:14 | SLXP | buy | $111.520 | long |
| 2014-12-17 11:42:25 | SLXP | sell | $114.000 | long |
| 2014-12-17 15:56:08 | SLXP | sell | $114.470 | 0 |
Comments
tombro
Nape, Do you have any Jedi mind tricks or exercises to help me be more patient on my entries? I definitely am better at my exits, but FOMO gets me on entering. Thanks!
Nape_BOWS
When a stock is pulling back; I like to see it pull back to support first, rather its price support or the ema's. Then I look for the stock to create one green candle letting me know the bottom might be in. Then I look for the next candle to create a higher low. Now I will start looking for an entry for the stock to bounce.
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Not a good entry. Let it finish pulling back.