HRB Trade on Jun 10, 2016 09:40 from robw_BOWS: Tradervue User Stock Trades.

Sim Day 16

My main focus now is trading gaps. Every morning, I scan for pre-market gaps, perform multiple timeframe analysis, and form my bias for entering a trade.

$HRB gapped up pre-market and was especially attractive because of the previous gap down on 4/27. For the past week and a half, it had been consolidating near resistance at around $21.85. I knew that if it broke resistance and held new support, it had plenty of room to go to fill the gap from 4/26.

My plan for entering the trade was to get an entry after confirmation of the break above resistance, hold new support, and go. It broke resistance and held, so I entered the trade according to my plan with a stop-loss at the VWAP (20 cent stop). My target was the gap fill from 4/26. After it filled the gap, I could see buying pressure diminishing, so I scaled out of the trade.