Clean daily chart, earnings gap up.
I didn't chase on the run up, I entered on what I though was an orderly pullback to the opening range when on the 1 min chart it held that level and there were a few small green candles indicating that it was going back up.
The difficulty I had with this trade is that I was watching multiple stocks at the same time and I didn't figure out yet how to enter a stop limit order on my phone. Also, the candles were moving such small amounts that I would be able to get out quickly when it chose a direction but then on just one candle, XPO broke the range and dropped a whole $1. Too much size for this trade esp. since Im supposed to only now be risking $50 per trade.
Entered again at the top of the next range and stopped out when it reverse. Again too much size for my risk.
**I don't know why this didn't bounce & run up, since it was such a nice gapper! Maybe because on the daily, it's chart high was at $34 and intraday it broke below the $34 level, so I should have shorted there and my entry at $33 should have been a short too...?
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2016-08-04 10:02:02 | XPO | buy | $33.010 | long |
2016-08-04 10:07:18 | XPO | sell | $32.030 | 0 |
2016-08-04 10:34:13 | XPO | buy | $34.030 | long |
2016-08-04 10:37:45 | XPO | sell | $33.630 | 0 |
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