Shared by
DerekB_BOWS
This really looked like a short to me on the 1 minute. 2 flag breakdowns and under VWAP and broke below $13 whole number and there was resistance at $13 on the Daily. What else could I ask for???? However, the 3 day 15 minute chart is clear, this was an up trend. And it's a clean breakout on the Daily too. LOOK AT THE BIGGER PICTURE - GO WITH THE TREND.
Thus, my trade was really a "counter trend" trade. NOT GOOD. I should have been looking for a Long setup.
I tagged this as "Midday Flag Reversal". But is this really a tradeable pattern????? It's not really in the book, is it?
I just can't see any reason it came down to $12.90 and went back up. There is no support at $12.90.
Ahah!! This entire day was all about the $13 dollar level. It was previous resistance on the Daily. Today, it had a big flag consolidation at 10:00 am at $13, broke through, came back down and consolidated above $13 for an hour. Tested under $13 and got bought back up and marched to $13.77 HoD.
Where I shorted was the PERFECT buy. Go figure.
I have been saying for 7 months now, if you sit beside me and take the opposite trade, you will make a ton of money.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2017-01-06 11:32:47 | HALO | sell | $12.930 | short |
| 2017-01-06 11:35:22 | HALO | sell | $12.920 | short |
| 2017-01-06 11:38:52 | HALO | sell | $13.000 | short |
| 2017-01-06 11:43:30 | HALO | sell | $13.100 | short |
| 2017-01-06 11:43:32 | HALO | buy | $13.110 | 0 |
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ok so htis is true for all momentum stocks!! if u try to short them on support before they start to actually die.. that support gets bought and it just runs hot!
so a stock like that u short it at the vwap it will just pop there