1. Took a breakout of a flag setup as it was testing market highs.
a. Contraindications:
i. It was not making new highs on the daily chart and subsequently did not surpass premarket highs
2. Risk: .31 to .27 as it would make a new 1min low
a. Reward: break of highs beyond .35
3. Took 1/4 of my BP as it was a decent setup within the context of the day. It wasn’t an obvious stock though so I figured it would not get a ton of support via momentum
a. Could have taken 1/3 given how strong and organized the setup was but I figure it was smart to take 1/4 given the lack of volume
4. Took 1/4 at .37 as it broke highs
a. Took 1/4 at the next two levels bc it was slow under .5 and left 45 shares ~.5 of my initial position to test .5 which did not happen
5. As the first 1min candle made a new low I had to sell all of my position
a. I learned to be patient within the trade especially given the volume context of this stock
b. I was patient by letting a good chunk of my position have the ability to test .5
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2021-02-23 10:46:39 | OEG | buy | $6.310 | long |
2021-02-23 10:48:09 | OEG | sell | $6.370 | long |
2021-02-23 10:48:35 | OEG | sell | $6.430 | long |
2021-02-23 10:49:28 | OEG | sell | $6.450 | long |
2021-02-23 10:53:39 | OEG | sell | $6.350 | 0 |
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