After sitting out for 2 days because I couldn't find anything to trade, I'm glad that I was able to catch this one. Oil had big gap up today and oil stock ETF gapped over the top of multi-month range. I was watching several oil tickers and I liked NBR the best because it had strong daily setup and clean intraday pattern. I waited quite a bit before taking the 1st entry because oil stocks often pull back very deep before running up.
Daily: oil big gap up, strong sector momo, breakout to new high
Intraday:
- 1st entry: bull flag over VWAP and 9 EMA catching up
- 2nd entry: 9 EMA quick pullback
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2016-11-30 10:40:16 | NBR | buy | $15.100 | long |
2016-11-30 11:32:57 | NBR | buy | $15.699 | long |
2016-11-30 13:00:10 | NBR | sell | $16.160 | long |
2016-11-30 14:10:12 | NBR | sell | $16.370 | 0 |
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