Day Chart: holding rising support line, bounce off support idea
Buy: just cracked ORB on 3rd candle, bought the 4th candle on $0.06 pullback
Order:
price
20 (slight decline)
VWAP
9 (more of a decline)
stochastics - positive but closing sharply
Sell: big $0.50 flush candle to still above day low. stock flushed before I entered stop so I mentally used day low. after 5 min consolidation it flushed another $0.50 candle. definitely no reason to stay, not even support.
Lesson: enter all trades with stop in mind. solidify that part of my process so that its a more mechanical technique. This was my disaster trade of the day and if not for this, would have had a proper day. in hindsight i would have used the low of the previous 5 min bar as a guidance. at that point the rising trend is broken and i can always re-enter if the opp presents itself.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2015-04-28 09:45:00 | ADXS | buy | $21.590 | long |
2015-04-28 09:57:00 | ADXS | sell | $20.710 | 0 |
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