I was watching for a continuation today with a break above 1.35 resistance. It spiked through this level within the first 5 minutes so I was looking for a flag or pullback to enter. Once it pulled back to the 9 EMA and began rounding upwards into the VWAP I entered 2000 shares at 1.40 with a stop at 1.35. I scaled out half my position into the first pop at 1.51. After it had broke above the first flag I scaled out 250 at 1.59, 250 at 1.64, and 100 at 1.68. As it flagged again I was considering re-entering as it had a strong volume pattern and the 9 EMA was holding as support. I wasn't confident enough and didn't want to give back to much of my gains so I passed on the opportunity. After it had broke out the flag I began scaling out 100 shares at a time. I had a trend line drawn from my entry to the apex of the flag and onward. Once the stock broke the 9 EMA and trend line I was thinking it would start to pullback deeper or potentially flush so I sold my last 100 shares at 1.78.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2015-04-02 09:50:50 | NYMX | buy | $1.400 | long |
2015-04-02 09:55:12 | NYMX | sell | $1.510 | long |
2015-04-02 10:09:25 | NYMX | sell | $1.590 | long |
2015-04-02 10:12:40 | NYMX | sell | $1.640 | long |
2015-04-02 10:14:14 | NYMX | sell | $1.680 | long |
2015-04-02 10:57:26 | NYMX | sell | $1.780 | long |
2015-04-02 11:00:45 | NYMX | sell | $1.880 | long |
2015-04-02 11:02:15 | NYMX | sell | $1.920 | long |
2015-04-02 11:25:56 | NYMX | sell | $1.780 | 0 |
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great job man. nice scale on trade risk free as well.