This trade came up as a pre market gapper as well as a stock in new highs. Being that it had no resistance meant it was from the best from the gappers, because of that I was looking for a opening range breakout.
Mistakes that I can now see is that the first 5min bar seems extended (I not entirely sure, share your view.) That I should have waited for a pull back or flag. Also I had an order that didn't get filled nor did I cancel it so I had twice the amount of shares.
Not a perfect trade but still green.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2015-04-02 09:46:36 | KMX | buy | $74.080 | long |
2015-04-02 09:54:19 | KMX | buy | $73.650 | long |
2015-04-02 10:55:12 | KMX | sell | $75.250 | long |
2015-04-02 11:05:23 | KMX | sell | $75.040 | 0 |
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The first candle does look extended, but I'm no expert on this. I agree with your analysis too. I wouldn't have dared to enter where you entered. Nice trade though!