Shared by
jmos_BOWS
Play: Bull flag/Short squeeze
Once I got stopped out, I thought it might start to fade as it couldn't break 6 but it held and buyers kept coming in and holding it up, every time it seemed like it was going to flush, it bounced right back so I got in when it started to break 6 again. Sold some into the spike, only half my shares as I thought the shorts were fried and had to cover especially nearing HOD but it was unable to break out so got stopped out last half at buy price.
Reasons to sell: spike, buy price/9ema
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2015-04-09 14:35:14 | VLTC | buy | $6.000 | long |
| 2015-04-09 14:35:30 | VLTC | sell | $6.080 | long |
| 2015-04-09 14:38:17 | VLTC | sell | $6.150 | long |
| 2015-04-09 14:46:02 | VLTC | sell | $6.000 | 0 |
Comments
jmos_BOWS
I agree! At that point, it should have been a scalp trade if anything. I missed the 5 level because I thought it was a chase as it was still extended and hadn't consolidated much..this one definitely frustrated me today as every time i wanted it consolidate a bit before next leg, it would just go so i kept missing it!
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It was squeezin all day and accelerated after psychological level of $5 but you tried to play third or fourth pullback which is very late. 1st and 2nd pullback are higher odds.