Really liked PROG because it had nice action yesterday. Off some decent news. Was looking for a continuation.
Added some Support levels and was prepared to trade it. I was looking for $5.00 to hold support. Well, it did, and went up 5%+. I didn't want to chase so I was looking for any pullback. Well, it pulled back to $5 and that was my mistake. I think. I'm not sure really. Because some stocks retest the support and go up. But others just test it once, then flush through it.
I bought on the second retest, and probably why this didn't work out is because the market's were red. I should have probably paid more attention to the futures to make a precise entry. And also, pay attention to volume when the bar begins to form near a support level.
But all in all, I studied the chart, looked at the news, patiently waited for a good entry at a strong Daily support level, and got stopped out. It happens.
6/10
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2021-11-17 10:19:24 | PROG | buy | $5.040 | long |
2021-11-17 10:20:34 | PROG | sell | $4.920 | 0 |
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