Shared by
tee
Day Chart: Over pivot high of $22, room to $23.50. Caution that it is on day 4 of a gap run.
Buy: Missed 4th bar breaking the ORB, bought a pullback and re-break of the opening high on the following bar.
Order:
Price
VWAP
9 (rising)
20 (rising)
stochastics - positive momentum
Sell: learning from yesterday's mistakes, sell the first sign that your pattern is invalid. I used the VWAP as a sign this potential bull flag was dead and added $0.06 cushion below. stopped out.
Lesson: check the daily range! the ORB most likely wont be so strong on this stock. it's gapped up 4 days in a row and doesnt usually show large daily candles. Should look at a daily range and see how much of that average has already been printed by the time you get in. yeah.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2015-04-28 09:57:00 | FCX | buy | $22.680 | long |
| 2015-04-28 10:12:00 | FCX | sell | $22.510 | 0 |
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