OCLR was in play two days ago after reporting earnings and after an inside day yesterday looked like it was going to break above two day resistance and move toward 10. I traded this pretty poorly twice. First, it was trading right at resistance when I got long. I should have waited for a breakout and consolidation or retest of key level and holding above the level. We never got that. Also the market was rolling over and accelerating to the downside so that definitely was playing against this trade.
OCLR was in play two days ago after reporting earnings and after an inside day yesterday looked like it was going to break above two day resistance and move toward 10. I traded this pretty poorly twice. First, it was trading right at resistance when I got long. I should have waited for a breakout and consolidation or retest of key level and holding above the level. We never got that. Also the market was rolling over and accelerating to the downside so that definitely was playing against this trade.
OCLR had been in play two day ago after reporting earnings. It had an inside day yesterday and today was trading right on its two day support level of 9.24. There was a clear buyer on the tape at 9.24 so I got long in front of it at 9.25 and planned to stop out at 9.23. When the stock traded down here yesterday it traded up to 9.49 and 9.43 so my target was 9.43 which also happened to be VWAP. I trade this well although I did leave too much on the table as I sold at 9.36 leaving about $70 on the table from my trade plan. OCLR traded all the way back to 9.50 today so it was a great risk reward. I need to trade my plan better and my sizing was terrible. I could have held 5000 shares for my risk and been within my single trade loss parameters.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2017-01-23 09:34:32 | OCLR | buy | $9.615 | long |
2017-01-23 09:34:32 | OCLR | buy | $9.615 | long |
2017-01-23 09:39:14 | OCLR | sell | $9.570 | 0 |
2017-01-23 09:40:26 | OCLR | buy | $9.610 | long |
2017-01-23 09:42:45 | OCLR | sell | $9.530 | 0 |
2017-01-23 10:46:37 | OCLR | buy | $9.250 | long |
2017-01-23 11:05:39 | OCLR | sell | $9.360 | 0 |
You need to log into your Tradervue account to leave a comment. If you don't have one,
it takes
just a few seconds to sign up, and it's free!