Shared by
efernandes
Recent runner that was making a triangle trend on the daily.
Bought when it looked liek VWAP was holding and was spiking. got stuffed and stopped out.
Tried again when it looke dlike bottom was holding and it could squeeze.
Ended up squeezing. Sold along the way.
Wanted it to squeeze more so I put an arbitrary stop which stopped me out on the wick of candle.
Ended up failing and would have stopped me out anyways.
Need to figure out when to take profits and when to risk a support level for a bigger reward.
I gave away about $1 for about only $.50 potential reward.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2021-10-01 09:36:00 | PALT | buy | $12.480 | long |
| 2021-10-01 09:41:00 | PALT | sell | $11.820 | 0 |
| 2021-10-01 09:50:00 | PALT | buy | $11.978 | long |
| 2021-10-01 09:50:00 | PALT | sell | $12.944 | long |
| 2021-10-01 09:51:00 | PALT | sell | $13.045 | long |
| 2021-10-01 10:02:00 | PALT | sell | $12.501 | 0 |
Comments
tradeso21
I think you should have sold your full position once you seen few dojis with false breakouts after the big Green candle as these were warning signs. Anyways, you did great :)
efernandes
When it cracked low of day, It didnt fall as low as I excepted it too. and it made a higher low. when it broke the mini high and started making it back up towards VWAP, I thought it pretty convicted this would squeeze b/c I felt that if I felt that it didnt crack as hard as I thought, others probably felt the same.
Yea, I used to do that, sell when I see a stuff, however, I have seen that if a stock has squeeze potential, it sometimes holds support and ends up squeezing even higher. That is why I held but ended up getting stopped out when it broke under VWAP.
Thanks!
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Hi, Nice trade on the Green long candle. I made profit on it too but I entered a bit late. What was your reasons to anticipate a breakout here ?