Shared by
tee
Day Chart: cup/handle like, posting higher highs
Buy: gap up, lost its high, dipped below open, now rising again.
Order:
VWAP
price
9ma (declining)
20ma (small incline)
stochastics - just touched to cross positive
Sell: lost the 9ma in 5 mins, eventually lost 20, stochs went negative again, used day low as support, big $0.50 flush candle forced me out.
Lesson: VWAP above all sign of negative momentum, stochastics just barely went positive, not enough strenght? stock took too long to respond upwards, all signs that this isnt the cleanest spot.
On this pattern of fading off highs, sideways consolidation can also mean a bear flag so expect a drop off if it's not really working. more reasons to get out if it doesnt respond fairly immediately.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2015-04-27 13:49:00 | YY | buy | $65.210 | long |
| 2015-04-27 15:15:00 | YY | sell | $64.630 | 0 |
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