Was trying a flat top breakout at $3.86. It had topped at $3.85 for almost 15 minutes. But just my luck, it hit my entry at $3.86, went briefly to $3.87 and then struggled for about 10 minutes before falling. I had a $.10 target with a $.10 trailing stop.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2021-03-04 09:58:39 | WTI | buy | $3.860 | long |
2021-03-04 09:58:39 | WTI | buy | $3.860 | long |
2021-03-04 09:58:39 | WTI | buy | $3.860 | long |
2021-03-04 10:05:31 | WTI | sell | $3.765 | 0 |
good job cutting it quick, just in case you didn't check there was a daily resistance around the 3.75 - 3.95 area. I would personally wait for a few more cents above the breakout level and confirm that there is momentum on the time and sales. I think this could have helped you here, an entry at 3.88 and just move your stop up to 3.78 as below that 3.8 level it's not really a strong BO anymore. anyways, just my input! good luck:D
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Way to manage risk!