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BDaniel_BOWS
-Recap: Second entry on this Earnings gap up, range breakout. Started flagging again after initial ORB/flag. Entered on confirmation. Sized for $1.25 cents risk, risking off recent low area, for $1.25+ reward. Again, not good ratio. Confirmation entries are going to be relatively worse R ratios than anticipation entries though, and don't think I would change anything about this entry - maybe slightly higher Risk Level.
Exits got funky balancing this entry, my previous ORB entry, and my EXPE exits. Need to let it run more before first. Third exit was locking in profits - it spiked above high of day and looked to have next leg, but it spiked just as was making new candle. New candle looked red (even though just took out highs) and then slammed down. Last exit was stop I moved above entry.
-Pros: Adding to winner on follow-up flag.
-Improve: Exits. Also, need to recognize 11:05 AM head and shoulders.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2016-02-17 10:08:03 | FOSL | buy | $43.750 | long |
| 2016-02-17 10:09:11 | FOSL | sell | $44.100 | long |
| 2016-02-17 10:12:09 | FOSL | sell | $44.590 | long |
| 2016-02-17 10:46:15 | FOSL | sell | $44.560 | long |
| 2016-02-17 11:28:18 | FOSL | sell | $43.800 | 0 |
Comments
BDaniel_BOWS
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Good job of watching this one and re-entering where you thought you should.