VLTC Trade on May 1, 2015 12:20 from Driver42_BOWS: Tradervue User Stock Trades.

Started to bear flag along the 5min 200ma but the broke through the upper trendline so I entered a small position at 10.84, with the intention of adding at the lower trendline if price came back down.
Very tight stop, under the trendline at 10.70
After a ten cent rise in the price I decided to cancel the second buy order at 10.8, as a retracement that far may mean worse to come.
Stopped out

Execution detail:

Date/time	Symbol	Side	Price	Position
2015-05-01 12:20:07	VLTC	buy	$10.840	long
2015-05-01 12:44:38	VLTC	sell	$10.700	0

#chart1 { background-image:url('/shared/charts/pricechart?symbol=VLTC&trade=2459575&end=20150531&i=d&TimeRange=120&Volume=1&ChartType=candlestick&width=450&height=275');}

#chart2 { background-image:url('/shared/charts/pricechart?symbol=VLTC&trade=2459575&end=20150501160000&i=m5&TimeRange=90&Volume=1&ChartType=candlestick&width=450&height=275');}

#chart3 { background-image:url('/shared/charts/pricechart?symbol=VLTC&trade=2459575&end=20150501160000&i=m30&TimeRange=90&Volume=1&ChartType=candlestick&width=450&height=275');}

Comments

LPeriman_BOWS

2015-05-06 12:56:37

Trendline break isn't a setup. For me, a trend line break may be a reason to exit some of a trade OR a signal to start looking for a setup, but not an entry trigger in the absence of flag, or other, setup.

Driver42_BOWS

2015-05-06 13:00:29

True. The trend was definitely down and I should have gone with the trend.
A nice bear flag with an entry point where I got stopped out.

kunal00

2015-05-10 09:59:46

also remember it had already bounced from 8 so the dead cat bounce was over

VLTC Trade on May 1, 2015 12:20 from Driver42_BOWS: Tradervue User Stock Trades.

Comments

Leave a comment about this trade!

Editor syntax