Shared by
BDaniel_BOWS
-Recap: Earnings put in a bull flag on the daily chart. Wasn't a very clean flag, but was gapping over the resistance trendline with the market this morning. Daily chart looked like $110 could be resistance, so wanted to see it over that. Just barely saw it breaking high of day, and so entered as ORB. Realized was in too big for my risk, and reduced right away. Even so, was still sized in a little too big, as risk should've been off $103.25 area, or about $2 risk. $113 was 50 DMA, so not even a great reward/risk ratio.
It started working right away and was exiting FOSL trade simultaneously. Should've reduced size a bit more. Actually gave first exit some time, which was an improvement. Knew the $113 50 DMA could be resistance, so second exit was into the spike. Last exit was stop above entry.
EDIT: This actually was probably gapping because of Priceline gapping on earnings and/or the Form 4 filing.
-Pros: Entry. Exits.
-Improve: Sizing.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2016-02-17 10:02:43 | EXPE | buy | $110.330 | long |
| 2016-02-17 10:05:15 | EXPE | sell | $110.360 | long |
| 2016-02-17 10:11:27 | EXPE | sell | $111.300 | long |
| 2016-02-17 10:13:34 | EXPE | sell | $112.430 | long |
| 2016-02-17 10:31:23 | EXPE | sell | $110.340 | 0 |
Leave a comment about this trade!
You need to log into your Tradervue account to leave a comment. If you don't have one,
it takes
just a few seconds to sign up, and it's free!