I was watching the 5 min candle chart.
First mistake: I should have waited for a second green candle to get in and the confirmation that the trend was going higher. I bought the first green candle i saw and i got shook out on the next red candle.
Second and MAIN mistake: The whole picture I had of this setup was too narrow I should have seen that the real level was in between 3,65 and 3,70. The stock test that area 4 times it's a clear indication that there is a resistance level there. My entry was way too early. The real entry level was around 11:00 and the real setup was a breakout. I bought the stock when it enter a consolidation level. Furthermore we can see that the volume show us that nothing is happening when I enter that trade.Volume confirm what I said about the breakout.
Third mistake: I should have seen the ascending triangle on the daily chart and I would have seen that the real level was around 3,80.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2016-03-30 10:19:30 | LEU | buy | $3.590 | long |
2016-03-30 10:23:12 | LEU | sell | $3.530 | 0 |
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