Shared by
markmandy54_BOWS
Daily Flag B/O and heading towards high for Flat top B/O. Long on pop over intraday Flat top B/O. S-.10 under B/O area, MA's and previous day consol. Got stopped out for max loss.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2013-07-31 09:42:39 | AXL | buy | $19.520 | long |
| 2013-07-31 10:24:15 | AXL | sell | $19.440 | long |
| 2013-07-31 10:24:15 | AXL | sell | $19.440 | 0 |
Comments
markmandy54_BOWS
That was totally the thought process as was looking at the pullback from breakout over previous days consolidation as the daily is starting to show a "pre" setup for a flat top breakout. Tried to front run it to get great price (under heavy resistance i now see) and got caught with hand in the cookie jar. Your comment on lack of volume which makes this daily pattern weak helps a lot. I didn't make that connection. Also i didn't look at 15 or 30min Time frame and that is just clear as day and i would have passed. Thank you!!!! The light bulb just flickered, now let's get this puppy lit!
Gena_BOWS
Yeah, I was gonna say that the 30-min chart would make me wait until it broke that resistance
Yep, after Kunal sent that pic it was SOO evident. Gotta train myself to view that 15 and 30 min for Resistance before getting in the trade.
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been bouncing 4 days into its daily chart http://screencast.com/t/ivBbIwFgBe if u see its 30minute chart ton of resitance right under where u buy it.. plus runningto restistance on the daily. the daily chart itself is not a very strong pattern but also this stock has no pr/earnings or antyhing so it needs volume and really strong setups and confirmation to go. this pattern was just weak but also not coiled. ur eyeing almost the right stuff just 1% away.. need more powerful patterns.