Shared by
pstark89
Whats the Setup: I thought it was triple tap but was only double tap pushing into previous day resistance.
Where are EMA's: Under
Resistance: $15.55
Support: $15.42
EMA's-Direction & details: EMA's converging underneath
Time Frame Alignment: If I looked closer I would have seen that my purchase price was running directly into yesterday's resistance.
Volume: Average
Market action: Turning up
Stop: $15.4
Target: $15.85
R/R: 3:1
Are Stop/Target proper: They were ok but not factoring in previous day resistance was making it tough to get through.
Reasons for exits: First part was sold on first pop. Balance was sold because it didn't have the strength I thought because of a lot of resistance.
Notes:
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2015-02-25 11:32:40 | OAS | buy | $15.520 | long |
| 2015-02-25 11:37:26 | OAS | sell | $15.670 | long |
| 2015-02-25 11:44:21 | OAS | sell | $15.560 | 0 |
Comments
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Well traded after you realised the resistance from yesterday. Sometimes it's good to get out asap