Day Chart: breaking flag on daily, cracked new high
Buy: price forming sideways triangle, bought the middle above MAs in anticipation of breakout, which it did but was weak and went south.
Order:
price
9ma (rising)
20ma (rising)
VWAP
stochatics - positive momentum
Sell: stop out on break of rising support, losing all MAs and VWAP at that point
Lesson: I missed 3 good ideas in the morning by a few seconds due to work and tried to force trades in the afternoon to be honest. I thought setups would be clearer but it turns out that no strength in the names I played so I was in a familiar situation - timing spikes but not getting follow throughs. This trade I did have an opp to sell for profit on the $0.13 max spike for a decent profit, but I was playing for a higher move and didnt raise stops (didn't want to get stopped out early if it did infact go).
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2015-05-08 13:14:00 | ICLD | buy | $4.150 | long |
2015-05-08 13:47:00 | ICLD | sell | $4.080 | 0 |
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