WBAI Trade on Jun 5, 2015 11:25 from Eric_Iannuzzi: Tradervue User Stock Trades.

Daily Setup: On the daily even it looked like it might be getting overextended (was on its 3rd upday, when you chase you die) It was breaking above that 24 level so It had rooom to go if it wanted to.
Hindsight is 20/20: Well it was still on its third day so it was really close to being a full on chase. It wasn't a play off of support or anything and was pretty far off the 20 ma on the daily so it had to have a great intraday setup to take the trade.

Intraday Setup: WBAI had a tetbook ORB and then formed a nice long flag pattern intraday. It was playing around with the 9ma and I bought as it remounted it.
Hindsight is 20/20: Just like SINA earlier, I didn't take into account the time of day. It was noon time and I gave the trade no room. The correct stop was the 20ma. Placing a stop at the 9ma was too risky bc A) it was still breaking above and below the 9ma AND B) it was noon time and a 9ma isn't a strong enough support.

Overall: Overall the setup lined up on multiple time frames and the intraday setup was good, but using the 9ma as a stop price was not correct.