Nice gap up on the daily chart, clean. Entered for a long on a pullback to VWAP on the 1 min chart with a hammer candle spiking down to the VWAP and bouncing off (this was in line with the daily chart). Held for a few candles an then broke under VWAP. Again, bought high instead of selling /shorting high. I guess the big red candle could have clued me in that it was going to reverse but it was small relative to the whole move up.
I did think to re-enter for a short but too much was going on.
Again I have to get more familiar with these $10 & Do more prep. I should have looked at its typical daily range so that I would Know that this stock only moves 50cents a day. Probably was not wort my time, not enough juice. Or I can just learn to get accustomed to these smaller stocks.
I also totally missed the ORB at $8.30 which would have been a nice entry to take for the move up, too much going on & entering on my phone was taking Ages! Small loss.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2016-08-04 09:54:41 | AXGN | buy | $8.710 | long |
2016-08-04 09:57:58 | AXGN | sell | $8.450 | 0 |
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