Shared by
tee
Day Chart: 3rd attempt at new highs, higher lows on pullbacks.
Buy: stock broke early morning downtrend then held its high since 1:30 using 0.08 range. I bought the 5th tap at the slightly descending upper channel and after the stochastics fell to near 20 line then crossed back up to around 65. I used that recent low as my stop.
Sell: stock moved 0.02 above entry, never still breaking the upper channel/flat top. stop taken out. high tight consolidation pattern invalid.
Lesson: trade earlier in the day - the move was made from 11:30 to 1:30 today. if you were long you'd probably be selling here at the highs too. Keep on watch for tomorrow's opening levels.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2015-04-20 15:17:00 | NOAH | buy | $30.280 | long |
| 2015-04-20 15:27:00 | NOAH | sell | $30.180 | 0 |
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