Shared by
daytradingzebra
Took this on the confirmed break over 60 which it had tested all day long, no go...had a pretty solid daily but no news to push it over the resistance
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2013-07-24 15:28:16 | QIHU | buy | $60.100 | long |
| 2013-07-24 15:29:12 | QIHU | buy | $60.070 | long |
| 2013-07-24 15:30:17 | QIHU | sell | $59.970 | 0 |
Comments
kunal00
i see ur entry on 5 minute its good.. the daily is not very ociled up for a run so it lacks the juice it needed lot of regular breakouts were failing today.
ckz8780
Nape hey dude - how would you have played it? Been seeing a lot of your comments and they just say "no setup" or "not good" or something and that doesn't really help. Remember we're all in this together man, maybe we can help each other out!!! :)
On this one I wonder if the mid-day breakdown was a hint that it was probably getting exhausted. Nice volume on the pop where you entered, but the daily didn't really have a great setup as it's just been kinda grinding upwards for the last month and also had tried to break down in the middle of the day so I feel like this chart would have looked really weird if it actually broke out and went on a rip.
kunal00
yeah i think the daily was just tired it hadnt consolidated for a while and a lot of breakouts were fading today.
Nape_BOWS
@chris.. Looking at the 5min chart, look like he bought right near the hod. That's where your resistance is at... So I think if he would have bought a bit earlier; price support and the MA's would have held him up and he could have made a little profit or just got stop out flat.
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not to good on the entry.