I could have took a trade in this right at the open as it broke yesterday's trend line at 37.80. I went over this scenario in my plan but I haven't had much success trading the open so I waited for some type of pullback or flag to enter. I went long 100 shares at40.22 as it pulled back to the 9 EMA and VWAP. I added another 100 shares at 40.18 after the 9 EMA was holding and it was consolidating under the VWAP and the 40.22 resistance level on the 1 minute. As it broke out I scaled out half my position at 41.15 near the highs and 41.23 resistance. I scaled out another 50 at 41.83. I wasn't patient enough with my last sell. I should have at least waited to see if the 9 EMA would hold, which it did, before selling. I sold the last 50 shares at 41.96 on the first red candle as it pulled back to the 9 EMA, leaving some money on the table as it ran up to 42.90 right after. This would have also been a great short once it had broke the trend line and the EMAs. It made a nice bear flag after testing the VWAP and 41.23 support level.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2015-03-24 10:16:34 | PRTA | buy | $40.220 | long |
2015-03-24 10:32:01 | PRTA | buy | $40.180 | long |
2015-03-24 10:53:35 | PRTA | sell | $41.150 | long |
2015-03-24 11:01:20 | PRTA | sell | $41.830 | long |
2015-03-24 11:12:16 | PRTA | sell | $41.960 | 0 |
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