After the price gapped and crapped in the morning, it held a lower high around $19.20 right on the MA. Anticipating the price to respect that MA again, I took it long when it pulled back to it at $19.47. I entered with partial size and then added in the rest when the price action confirmed what I thought might happen. As the action popped higher, I covered and then re-added my covers when price appeared to be pushing higher. This worked really well for me today and I think I need to implement this strategy more regularly. It is a great way to lock in gains in the event of a quick pop and drop but it allows me to capitalize on further favorable price movement as well.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2015-07-14 10:41:47 | MU | buy | $19.470 | long |
2015-07-14 10:49:57 | MU | buy | $19.570 | long |
2015-07-14 11:01:00 | MU | sell | $19.690 | long |
2015-07-14 11:23:20 | MU | buy | $19.730 | long |
2015-07-14 11:30:56 | MU | sell | $19.790 | long |
2015-07-14 11:40:16 | MU | sell | $19.740 | 0 |
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