Daily B/O of the triangle pattern. Waited intraday for flag but was TOO sloppy. Shouldn't have taken trade. Long right under the intraday B/O and ran but started to roll. Stop was -.50 (under first B/O point and 9MA), T was +1 but once zoomed into 30 min there was TON of resistance at 67.05, SPY selling off so bailed plan and took off early. Never should have taken the trade.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2013-08-06 09:59:23 | XONE | buy | $65.900 | long |
2013-08-06 10:20:41 | XONE | sell | $66.300 | 0 |
Thanks Nape, ironically my stop never hit and my target did so i jacked the probability by taking it off early. Where i went long there was no setup. I should have waited until the flag formed and broke out over the 66.25 area. Much better R:R too.
oh smack ur trade was fine but you needed to re-enter that stock again.. u can trade these over and over sometimes
Totally agree kunal, was actually watching to re-enter, and then had to go to work. Damn that day job.... for now.
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Nice scalp!