Shared by
WildThingTrading
This one made a big move today and was another stock with lots of resistance on the daily chart.
First trade was basically just fishing for the top and was trying to get .10/share on 5k shares but ended up having to stop out as it broke HOD.
I figured I'd get another shot at it though and wanted to see how it reacted around the $2 level.
The tough thing with trading is hindsight is so easy because looking back its so obvious what I should have done.
I think the whole plan to get a quick .10 scalp is just not a reasonable strategy but more of a gamble. I'm going to try to work on having a bigger picture plan on these types of plays since it was obvious from price action and the daily chart that I should have been scaling in and adding up to the $2 level and then adding big after that reject and large exhaustion candle at $2 around 11:18am.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2016-10-14 10:57:00 | CTRV | sell | $1.830 | short |
| 2016-10-14 11:18:00 | CTRV | buy | $1.910 | 0 |
| 2016-10-14 11:59:00 | CTRV | sell | $1.830 | short |
| 2016-10-14 12:09:00 | CTRV | sell | $1.810 | short |
| 2016-10-14 12:26:00 | CTRV | buy | $1.750 | short |
| 2016-10-14 12:31:00 | CTRV | buy | $1.730 | short |
| 2016-10-14 13:00:00 | CTRV | buy | $1.830 | 0 |
Comments
WildThingTrading
Yes I did. I tend to stay away from those end of day ramps because for some reason I'm not as good at those trades. Seeing that price held up pretty good makes me happy for more opportunities next week.
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Nice trade bro. Did you see the double top set-up that formed at the end of the day?