Shared by
derekrucki
Multi time fram breakdown that went according to plan. Shorted at all time lows and under the intraday bounce during the morning for a nice $65 profit. Everything was going my way this morning I couldnt be stopped!
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2012-11-16 10:49:55 | MRVL | sell | $7.300 | short |
| 2012-11-16 11:06:37 | MRVL | buy | $7.170 | short |
| 2012-11-16 11:08:14 | MRVL | buy | $7.170 | 0 |
Comments
derekrucki
Thanks for the insight man I see what you are saying there. I have wanted to find a way to scale into these things instead of loading the entire position right on the intraday break so I will experiment with that for sure. I have been thinking about adding to some of these intraday breakdowns on bounces to the 10days cause that seems to be strong resistance on these things, but ill have to test that. Cheers
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Nice trade - in the future, try catching it off that little bounce in the AM so you can hit it w/ more size. It was showing clear weakness around 10:30am making lower highs and wicking up trying to break over $7.45 and repeatedly failing. You can really lower your risk to nothing on these by entering just as they start to show weakness. Try it w/ half size there and then when it cracks lows double, triple or quadruple your position since you have confirmed death! Anyway great trade! :)