Shared by
tee
Day Chart: stalking this multiday breakout
Buy: Thought I saw a flag break out. Turns out the flag formed throughout the day. After reviewing my charts, I saw that stochastics gave a clue - they weren't showing upside momentum when I bought but they perfectly showed that before the 1pm breakout.
Sell: Taking small losses, didnt want to experience further downside. It's now below the flag breakout and I no longer had that flag pattern I had drawn. Turns out the flag was still in tact had I scaled out my charts more.
Lessons: combine breakouts with how the stochastics look cuz I've had much success with the stochastics. Reviewing this whole day has upped my game though. Been grinding downwards mentally but I held my ground. I guess that's another indirect lesson learned.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2015-04-15 11:45:00 | VLTC | buy | $8.800 | long |
| 2015-04-15 11:59:00 | VLTC | sell | $8.620 | 0 |
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