MDCO Trade on Mar 17, 2017 11:26 from Emilie_BOWS: Tradervue User Stock Trades.

Daily: reversal after big gap down to support
Intraday: VWAP breakout, bull flag

Stock had a huge gap down to near the 200 SMA and price support. It had a push out of the open then pulled back and was flagging just under VWAP and $42 level.
- I took the 1st entry on the break above VWAP after I saw volume coming in. I scaled out 1/3 around HOD, then another 1/3 at $46, kept 1/3 to EOD.
- 1:45 pm: adding back all shares and taking one additional full size position planning to hold to $50 and/or EOD.
- 3:06 pm: another nice flag, adding some risking 25 cents on this entry.
- Followed my plan and got out at $50

Lessons for me:
- When being in a good mover that is trending well, follow price action and look to add shares to position at logical locations. Do not look at unrealized P&L and make decisions based on that.
- Always keep an eye on momo stocks of the day even if you don't see a setup or don't know what to do yet. Give the stock a chance to come to you.
- Need to think twice before swing trading those drug stocks, definitely got lucky when I missed the entry for this one last week when it double-bottomed on $50.

To answer a few questions:
- Stock had enormous volume out of the gate and couldn't break pre-market low. It reversed strongly instead, and again on good volume. However, I wouldn't buy the reversal out of the gate because that's not something I can trade profitably on a consistent basis. This stock already went too far by the time I could really see what was going on.
- It could have been bear flagging under VWAP. I didn't know which side of the flag it would break but I wasn't interested in shorting because it was already close to support on daily.
- I waited for break and hold over VWAP. Stop was under the low of the candle breaking above VWAP.
- The flag around $45 area was a good one to double up because it was a test of old high/breakout point, very tight, supported by the MAs. I didn't buy in the consolidation, I bought when I saw price kept moving up.