Shared by
Mari_BOWS
Small profit $15.63. I used half position size.
Stop was $0.07 from entry.
RR 2:1 target was $5.59.
I sold the first half before the target was hit. I sold quarter at the first target and that was the peak. I wouldn't have traded this breakout if I had looked at the 15-minute and 30-minute charts first. This run-up was already too extended.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2015-01-09 14:45:00 | AGEN | buy | $5.450 | long |
| 2015-01-09 14:52:00 | AGEN | sell | $5.540 | long |
| 2015-01-09 14:54:00 | AGEN | sell | $5.590 | long |
| 2015-01-09 14:56:00 | AGEN | sell | $5.480 | 0 |
Comments
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u can not long that .. that is 100% ideal short spot
after the big flush from the open.. what ur playing is a dead cat bounce
u have now made a retracement all the way back to highs nearly thats the short spot.
think about this.. the stock gapped up and it got faded hard..people rushed out of it.. it tanked off that open so its first bounce is a dead cat bounce its the squeeze
http://screencast.com/t/7zU5GshwXL
ur getting in too many plays where the reward to risk is not good.. if u want it get it closer to 5 not at the highs