Shared by
handycandi_BOWS
Bought long when price pulled back to 2-min 9EMA; set stop just below.
Bought long again when price actually pulled back to 5-min 9EMA; set stop just below. Sold when 9EMA started to turn down.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2015-06-11 09:54:28 | COMM | buy | $31.150 | long |
| 2015-06-11 09:58:52 | COMM | sell | $31.005 | 0 |
| 2015-06-11 10:06:42 | COMM | buy | $30.989 | long |
| 2015-06-11 10:16:43 | COMM | sell | $30.890 | 0 |
Comments
handycandi_BOWS
I messed up the first time, but on the second trade, the price pulled back to MAs, the volume was lower on the pullback than on the ramp up, and it was a neat and orderly pullback. That's what the textbook says. If I could have improved anything (without seeing the future), I'd have bought it a few cents lower, but I'd still have bought it. Why do you disagree? (Not arguing, asking for your insight...)
JDN6832_BOWS
It all depends on the daily. A pull back to the MAs can be an entry if the stock is trending. The daily chart made this to a short to me.
You have to get your overall thesis from the daily. Then if a textbook set up presents itself (aligning on multiple time frames). You have to take everything within context. Red light doesn't always mean stop green light doesn't always mean go in trading.
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where is your pattern? Just because a stock pullback to Emas, that means nothing