Set UP: Bull coil
Entry: Expecting break out of bull coil
Stop: under 9.64
Target: 10-10.10
Negative: I entered in lunch hour so less likely to break out during that hour.
However, chart very nice bull coil. Technicas strong too.
Exit:
1st - locking in profits
the rest - close to my target 10
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2016-05-18 12:22:00 | FIVN | buy | $9.720 | long |
2016-05-18 13:13:00 | FIVN | sell | $9.870 | long |
2016-05-18 13:33:00 | FIVN | sell | $9.990 | long |
2016-05-18 13:39:00 | FIVN | sell | $9.960 | 0 |
Target was 10-10.10 case there was price resistance and it is whole number too.
Why I bought at that time? It saw the coil coming to the Apex and I expected break to upside. The coil was very narrow and I expected it is going to break out very soon. If it would break down, I would exited quickly.
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Good risk to reward but, in order to understand the process better so that I can sustain winning, why was your target 10-10.10? I prefer buying lower in the range, but this pattern really just grinded up. Any reason you entered at that particular time?