Shared by
tee
Day Chart: earnings selloff yesterday, bottomed this morning
Buy: Sideways wedge including yesterday afternoon price pattern, looking for continued higher lows intraday.
Order:
Price
9ma (flat)
20ma (declining)
VWAP
Sell: all MAs went negative, pivot in wedge pattern still holding, stochastics under 20 line for oversold bounce potential but flush candle pushed price to new pivot low, no reason to stay.
Lessons: 2 failed exit opportunities - 20ma declining could have been clue that momentum was weakening. that coincided with break of wedge pattern too. if it's no longer a clean pattern, dont stay around and gamble the 50/50 random chance it might pop. play the odds, be mechanical.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2015-04-27 12:05:00 | INFY | buy | $31.670 | long |
| 2015-04-27 13:38:00 | INFY | sell | $31.520 | 0 |
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