Shared by
JasonC_BOWS
Awesome play this morning on $SWHC. This one came up on scanners, it was up on earnings plus a 52 week high break. Anticipated the ORB a bit but still managed to stay in the trade. Added a bit on the next flag and road it all the way to the top. I wanted the $28 tap but when I saw the stock getting a bit weaker I called it quits. Got out on time.
P&L: $1276.00
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2016-03-04 09:40:31 | SWHC | buy | $26.580 | long |
| 2016-03-04 09:55:21 | SWHC | buy | $27.200 | long |
| 2016-03-04 10:58:11 | SWHC | sell | $27.800 | 0 |
Comments
JasonC_BOWS
Thank you! Well this was actually my first scale in on any trade. I wanted to focus on price action, entries and exits before I worked on scaling. I gave it a shot today to see how it worked out for me. The reason I waited so long was i did not want to chase into the spike. I waited for the pullback and confirmation it was going to hold. Once I got my confirmation I went in full size. Again, this was my first time and i am not to knowledgeable when it comes to scaling. So any feedback you can give me would be appreciated. As far as getting off the trade, yea it was having trouble holding the trend and monitoring the price action I knew a pullback or dip was coming. So played it safe got out and it went on my favor.
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I really like your first entry a lot. You knew you wanted to play the ORB, so you got in early (presumably with a smaller position/risk) in anticipation of that setup. Only thing is .. if that was the plan ... why wait so long for the second entry? If you are looking for the ORB, you could have added your full position on ORB confirmation rather than on a 2 candle 'flag'. You didn't say, but I'm guessing your exit was due to the trendline break intraday.
Really nice trade!