Shared by
CommanderJP
Sim day #1 7/7/16
My second trade of the day.
Looked like a good ORB setup as it was one of the top premarket movers.
Price made a flag pattern and it consolidated at around 9:10 am making it look like a good time to get in with a stop at $8.47.
Price went up throughout the day as volume was diminishing so I decided to get out on my own.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2016-07-07 10:17:51 | EZPW | buy | $8.691 | long |
| 2016-07-07 10:17:51 | EZPW | buy | $8.691 | long |
| 2016-07-07 10:17:51 | EZPW | buy | $8.693 | long |
| 2016-07-07 10:17:51 | EZPW | buy | $8.694 | long |
| 2016-07-07 10:17:51 | EZPW | buy | $8.695 | long |
| 2016-07-07 10:17:51 | EZPW | buy | $8.696 | long |
| 2016-07-07 10:17:51 | EZPW | buy | $8.695 | long |
| 2016-07-07 10:17:51 | EZPW | buy | $8.696 | long |
| 2016-07-07 10:17:51 | EZPW | buy | $8.698 | long |
| 2016-07-07 10:17:51 | EZPW | buy | $8.700 | long |
| 2016-07-07 10:17:51 | EZPW | buy | $8.700 | long |
| 2016-07-07 10:17:51 | EZPW | buy | $8.700 | long |
| 2016-07-07 11:50:53 | EZPW | sell | $8.847 | long |
| 2016-07-07 11:50:53 | EZPW | sell | $8.846 | long |
| 2016-07-07 11:50:53 | EZPW | sell | $8.845 | long |
| 2016-07-07 11:50:53 | EZPW | sell | $8.843 | long |
| 2016-07-07 11:50:53 | EZPW | sell | $8.841 | long |
| 2016-07-07 11:50:53 | EZPW | sell | $8.841 | long |
| 2016-07-07 11:50:53 | EZPW | sell | $8.842 | long |
| 2016-07-07 11:50:53 | EZPW | sell | $8.842 | long |
| 2016-07-07 11:50:53 | EZPW | sell | $8.843 | long |
| 2016-07-07 11:50:53 | EZPW | sell | $8.845 | long |
| 2016-07-07 11:50:53 | EZPW | sell | $8.850 | 0 |
Comments
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This was a good pre-market mover. The volume didn't come in until the market open. I really like your entry. Buying support, as opposed to the breakout, is critical in everything except a straight up market bull run.
The one thing to consider on this is the daily chart. There was no "key levels" that it gapped over, or into. However, it's just a congested area. See my chart below to see what I mean. None of those levels are "key", but each one represents inflection points where traders before have bought/sold and are bag holding. This makes todays chart less likely to "gap and go", in my opinion. I dunno... something to consider.
http://screencast.com/t/B7q6a0Bb6