Shared by
BDaniel_BOWS
-Recap: Easy to see overall idea, but was a case of "looking" for a pattern. Earnings gapper with room to run and was looking for an ORB or Flag. Got frustrated when my 4 stocks on watch weren't setting up and so "saw" a flag. Could've re-entered but was mentally out of my morning at that point.
Was risking 75-cents off $22.75, the 3rd candle low and below VWAP on entry. Room to run to $25, so 2R. Reduced size realizing I forced the pattern and raised stop too, but should've exited entirely after recognized force.
-Pros: Daily chart setup.
-Improve: Be okay with intraday charts that may not set up. Even if they don't look like they will, they might, just as this did.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2016-02-25 09:53:49 | DRII | buy | $23.530 | long |
| 2016-02-25 09:58:14 | DRII | sell | $23.440 | long |
| 2016-02-25 10:10:27 | DRII | sell | $22.850 | 0 |
Comments
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ur still chasing them.. think about tight patterns if u buy near highs or deep pullbacks if u buy for support