Shared by
Timpalmer13
noticed this pulled back and then held above 25 resistance and getting tight. got 3 lots with stop 97 cents, 95, 93 cents. added when it consolidated above 35.10 and trailed stop for extra lot below 35.08. covered risk in first upmove and down tick, then had to leave desk. offers filled at 40 cent and 45 cents. sold core when consolidation broke down at 65 cents. really should have had an offer at 26 while I was off the desk, may have been filled.
in review- very happy with how I traded this. could have even been bigger with that tight consolidation against 35.10 and even double up but didnt want to get shaken. still happy with how I traded this and recoginsied a good reversal setup. another one to add to my playbook.
things i like about this trade
heavy volume off the bottom
strong upmove- consolidated and gets above resistance and broke above
consolidated cleanly and tightly above 45 for 35-40 minutes
broke above then trended cleanly- plenty of room to the upside
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2013-04-17 11:42:57 | LXK | buy | $25.019 | long |
| 2013-04-17 11:43:07 | LXK | buy | $25.020 | long |
| 2013-04-17 11:43:18 | LXK | buy | $25.029 | long |
| 2013-04-17 12:27:27 | LXK | buy | $25.120 | long |
| 2013-04-17 12:47:00 | LXK | sell | $25.190 | long |
| 2013-04-17 13:36:55 | LXK | sell | $25.400 | long |
| 2013-04-17 13:45:07 | LXK | sell | $25.450 | long |
| 2013-04-17 15:02:14 | LXK | sell | $25.600 | 0 |
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