Day Chart: gap down day before, oversold bounce
Buy: saw that the price ended an all day downtrend, reclaimed both MAs which were now crossing for positive. Bought the remount of the 9 and 20
Order:
VWAP
price
20 (rising)
9 (rising)
stochastics - positive momentum
Sell: stopped out on failure to hold MAs as support
Lesson: as mentioned I missed my ideas in the morning by a few seconds and didnt chase due to work. Honestly see that I was forcing trades all day after the first loss. This one was flagging but in one candle got flushed out past stop. When I consider the 30 min chart or even the past 2 days where the stock gapped down, this wasnt really a true low so no reason to bounce as I expected. I was looking too closely at the one day chart, not factoring more of the recent price history. Too eager to turn a profitable trade.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2015-05-08 13:53:00 | WFM | buy | $42.530 | long |
2015-05-08 14:12:00 | WFM | sell | $42.400 | 0 |
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