$26.5 BREAK-OUT ATTEMPT#1
Not on main watch. Alert hit when it broke thru R1=$26.5 on BIG volume + RVOL>2.0 (stock in-play) trying to resolve a 1.5 month-old daily triangle. R2=$28, R3=$29.
Got long Tier 0 at the pullback to R1=$26.5 risking previous close=$26-26.2, expecting to hold and push to R2.
Looked good for a moment, pushed higher, HOD=$27.4 but got hit together with overall market and rolled-over back to R1. I thought:
what a market gift, added Tier I tightening stop to bottom of pullback $26.4s. Played the flag adding small size vs the uptrend, expecting a retest of HOD at a minimum to sell some, then move to R2 to take out bulk.
I saw volume drying up (where was the VOLUME!!?) + a quick fake-out at $27 (if it was meant to go it would have gone right there) were enough to cut the whole position the moment it broke the uptrend for a b/e trade.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2021-01-13 09:38:20 | PLTR | buy | $26.600 | long |
2021-01-13 10:06:32 | PLTR | buy | $26.610 | long |
2021-01-13 10:14:02 | PLTR | buy | $26.710 | long |
2021-01-13 10:23:52 | PLTR | buy | $26.790 | long |
2021-01-13 10:26:53 | PLTR | buy | $26.890 | long |
2021-01-13 10:39:04 | PLTR | buy | $26.860 | long |
2021-01-13 10:43:08 | PLTR | buy | $26.940 | long |
2021-01-13 10:49:00 | PLTR | sell | $26.850 | long |
2021-01-13 10:52:06 | PLTR | buy | $26.960 | long |
2021-01-13 11:00:56 | PLTR | sell | $26.770 | 0 |
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