VRX Trade on Apr 5, 2016 10:16 from JamesDover_BOWS: Tradervue User Stock Trades.

Gapped up above support. Had decent r:r so I shorted it hoping it would revert to its LOD. This actually went against my daily thesis. There was no pattern here that I saw except this stupid inverted V.

Low and behold the next day (today) this stock trends so cleanly you wouldn't believe.

Execution detail:

Date/time	Symbol	Side	Price	Position
2016-04-05 10:16:43	VRX	sell	$28.360	short
2016-04-05 10:28:40	VRX	buy	$28.490	0
2016-04-05 10:41:49	VRX	sell	$28.635	short
2016-04-05 10:42:58	VRX	buy	$28.800	0

#chart1 { background-image:url('/shared/charts/pricechart?symbol=VRX&trade=4461108&end=20160505&i=d&TimeRange=120&Volume=1&ChartType=candlestick&width=450&height=275');}

#chart2 { background-image:url('/shared/charts/pricechart?symbol=VRX&trade=4461108&end=20160405130258&i=m5&TimeRange=90&Volume=1&ChartType=candlestick&width=450&height=275');}

Comments

ShawnSplint_BOWS

2016-04-06 15:32:22

Be cautious when shorting gap ups. Unless you have determined that it is an exhaustion gap, gap ups are a sign of strength.

LPeriman_BOWS

2016-04-06 20:12:36

Daily chart "bear flag" has only 2 taps and it gapped up on some news, as ShawnSplint said. Again, I don't think your trade was "bad". It just didn't line up perfectly. Even the volume pattern said to watch for a long. Once again, good job of controlling you risk.

VRX Trade on Apr 5, 2016 10:16 from JamesDover_BOWS: Tradervue User Stock Trades.

Comments

Leave a comment about this trade!

Editor syntax